Shandong Hi-Tech Spring Material Technology's IPO to debut on Shenzhen Stock Exchange, 3,000 times oversubscribed.
Jul 06, 2023 (China Knowledge) - Shandong Hi-Tech Spring Material Technology (301292) to start trading on the Shenzhen ChiNext Market tomorrow Jul 7. The firm has issued 55.7 mln shares priced at RMB 19.99 per share, raising RMB 1.1 bln (USD 150 mln). Its price-to-earnings ratio (PE) stands at 16.23. During subscription, the IPO was 3,000 times oversubscribed.
Sinolink Securities acts as the lead underwriter and sponsor for the IPO.
Shandong Hi-Tech Spring Material Technology is mainly engaged in the R&D, production and sales of carbonate series lithium-ion battery electrolyte solvents and high-end propylene glycol, isopropanol and other fine chemicals. The company is one of the world's major lithium-ion battery electrolyte solvent manufacturers, is also one of the main domestic...
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