Wuxi JinYang New Materials's IPO to debut on Shenzhen Stock Exchange, 2,781 times oversubscribed.
Jun 29, 2023 (China Knowledge) - Wuxi JinYang New Materials (301210) to start trading on the Shenzhen ChiNext Market tomorrow Jun 30. The firm has issued 20.6 mln shares priced at RMB 57.88 per share, raising RMB 1.2 bln (USD 170 mln). Its price-to-earnings ratio (PE) stands at 54.3. During subscription, the IPO was 2,781 times oversubscribed.
Essence Securities acts as the lead underwriter and sponsor for the IPO.
Wuxi JinYang New Materials is a manufacturer and wholesaler of storage batteries. The company is mainly engaged in the R&D, production and sales of battery precision structural parts and materials. Its main products include battery packaging shells, safety valves and...
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