Huadong Heavy Machinery Was Approved by Public Offering Review Committee
According to the CSRC's evening announcement of March 2nd, Public Offering Review Committee of the CSRC has reviewed the IPO application of Wuxi Huadong Heavy Machinery Co., Ltd. (“HDHM” for short). Another manufacturing enterprise invested by Jiuding Capital is about to be listed in the capital market.
The pre-announcement data show that HDHM is to issue 50,000,000 shares, accounting for 25 % of post-issuance general capital (200,000,000 shares). HDHM is to be listed in Shenzhen Stock Exchange.
HDHM is engaged in R&D, production, installation and sale of container loading and unloading equipment, such as rail-mounted gantry crane, quay crane, etc., and is one of China’s important manufacturers of the rail-mounted gantry crane, with the superior position in China’s inland port market. The raised fund is to be used in the capacity expansion project of 105 rail-mounted gantry cranes and 24 quay cranes.