Shida Shinghwa Files For Hong Kong IPO
MT Newswires Live04-02
Shida Shinghwa Advanced Material Group (SHA:603026) has submitted an application to launch a secondary listing on the main board of the Hong Kong Stock Exchange.
The producer of basic organic chemical products filed the application on Wednesday, listing China International Capital Corp. or CICC (SHA:601995, HKG:3907) as the sole sponsor.
Proceeds will be used to scale up and upgrade its electrolyte business, to extend its market presence and expand its production of integrated lithium-ion battery-related materials, the company said in the draft prospectus.
The proposed listing is subject to regulatory approvals in China and Hong Kong.
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