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NEWS - Wenzhou HONGBO Liquid Equipment Co., Ltd.

Stainless Fittings How To Made Rich


DataTime: [2011-11-02]     Click: [3]   [ Back ]   

China's largest plastic pipe and sanitary pipe fittings manufacturer in China Wenzhou Hongbo become rich making the capital market as another myth - the company's Chairman and Executive Director Wong Hei Union jumped to about 5.8 billion net worth.

China United Plastic 3.0 billion shares of the total share capital, the public offering of 750 million new shares, representing the total issued share capital after the listing of 25% of IPO price range of between 2.6 to 3.5 yuan, the estimated ~ 2.625 billion yuan fund-raising 1.95 billion, of which 90% for international placement, 10% for the Hong Kong Public Offering.

But the sale have shown that the sale only been subscribed Wenzhou Hongbo about 149.1 million shares, recorded about 0.99 times oversubscribed, while the international placement only been in full subscription.

Hong Kong shares slump recently, with the same period in the prospectus of the World Union Plastic Tech Although completion of the IPO, but in the end for fear of unstable market conditions, market had been suspended.

China Wenzhou Hongbo listing that was broken, the day opened reported 2.57 yuan, higher than IPO price 2.6 yuan or 1.15 percent, to close at 2.6 yuan, rise back to the offer price, day high and the minimum 2.62 yuan and 2.51 yuan, traded 7,970 shares, involving the amount of 210 million yuan.

Chinese President and Executive Director of United Plastics United Wong Hei said that to maintain high led tube confidence in earnings growth, because the sanitary pipe fittings industry, stage of rapid development. He also said the export ratio of less than 5% of the Group, the mainland export tax rebate cancellation of sanitary pipe fittings little effect on the Group.

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