The capital raised from the IPO offering will fund its ongoing aircraft tyre project in Qingdao with a total investment of RMB 314 million.
Sentury IPO to Fund Aircraft Tyre Project
According to a notice on 4th June by China Securities Regulatory Commission, Sentury Tire has obtained approval for its IPO on the Shenzhen Stock Exchange’s SME.
This was Sentury’s second attempt at public listing. It filed its first application in 2018, and the review was terminated in January 2019. The new application was filed last November.
The prospectus said, capital raised from the offering will fund its ongoing aircraft tyre project in Qingdao with a total investment of RMB 314 million and 80,000 unit/year capacity, including 50,000 unit/year retread tyres, said the prospectus. It would also finance the upgrading of Sentury’s research centre.
The IPO price or issuance date is yet to be confirmed.