On October 11th, Meichang New Materials (872859) issued a noticeable announcement on the listing counseling filing. The announcement shows that Meichang New Materials intends to issue IP ordinary shares (A shares) for the initial public offering and to list in China. In July 2018, it submitted the registration materials for the initial public offering of shares and listing in the Shaanxi Regulatory Bureau of the China Securities Regulatory Commission. The counseling and filing situation was announced on October 10, 2018 on the official website of Shaanxi Securities Regulatory Bureau. Currently, the company is accepting counseling from CITIC Construction Investment.
Established in July 2015 with a registered capital of 360 million yuan, Yangling Meichang New Materials Co., Ltd. is a technological innovation enterprise mainly engaged in the research, development, production and sales of electroplating diamond wire and other diamond superhard tools. At present, the company has achieved an annual production capacity of 24 million kilometers of electroplated diamond wire, and has become the world's leading manufacturer of diamond wire saws.
In the current turbulent capital market environment and the volatility of the PV industry policy, whether Meichang New Materials can successfully pass the IPO has a big suspense, but considering the strong capital escort behind Meichang and its huge growth potential, We look forward to the successful listing of Meichang New Materials.
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