Changzhou Shichuang Energy's IPO to debut on SSE STAR Market, 3,928 times oversubscribed.

Jun 28, 2023 (China Knowledge) - Changzhou Shichuang Energy (688429) to start trading on the SSE STAR Market tomorrow Jun 29. The firm has issued 40 mln shares priced at RMB 19.2 per share, raising RMB 768 mln (USD 106.67 mln). Its price-to-earnings ratio (PE) stands at 28.92. During subscription, the IPO was 3,928 times oversubscribed.

Huatai Securities acts as the lead underwriter and sponsor for the IPO.

Changzhou Shichuang Energy is mainly engaged in the research and development, production, and sales of photovoltaic wet process auxiliary products, photovoltaic equipment, and photovoltaic cells. Photovoltaic wet process auxiliary products include texturing auxiliary products, polishing auxiliary products and cleaning auxiliary products and others, which are mainly used in cleaning texturing and etching and polishing processes in photovoltaic cell manufacturing. Photovoltaic...