Saunaking’s Application for IPO in ChiNext Approved
CSRC announced on June 9th that Anhui Saunaking Co., Ltd.’s application for IPO was approved. Before the offering, Jiuding Capital is the second largest shareholder of Saunaking, with a share of 8.16%.
Pre-disclosure shows that Saunaking plans to offer 20,500,000 shares in the IPO, and the fund raised will be invested in projects including far-infrared sauna, etc.. Anhui Saunaking is the largest manufacture and operation enterprise in China for household sauna equipment, and is focused on R&D, manufacture and sales of household sauna equipment. The main products mainly consist of household far-infrared sauna and portable sauna products. The enterprise was founded in April 21st, 1995, and was transferred to a stock limited company in December 28th, 2007, and at present has a registered capital of 61,250,000 yuan.