On June 4, China Securities Regulatory Commission announced the review result, with its IPO declaration passed, Qingdao Sentury Tire Co., Ltd. would land on small and medium enterprise board of Shenzhen Stock Exchange to become the 12th listed tire enterprise in China.
The planned total number of shares issued by the company is no more than 69 million, with the issue expenses deducted, the funds raised are about 1.209 Billion Yuan, which are invested to three projects: firstly, the project with an annual capacity of 80000 aircraft tires (including 50000 retreaded tires), which will use the funds raised of 209 Million Yuan; secondly, R&D center upgrading project, which will use the funds raised of 250 Million Yuan for perfecting the R&D platform and building tire testing ground; 750 Million Yuan will be used for supplementing the working fund and repaying the loan of the financial institutions.
Founded in 2007, Qingdao Sentury focuses on R&D, production and sale of green, safe, high-quality and high-performance semi-steel tires and aircraft tires.
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