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ADD IPO NEWS

Date:2017-03-17 09:37:25

ADD Industry (Zhejiang) Corp., Limited has been officially listed on Shanghai Stock Exchange On January 26th, 2017, which has marked as a milestone moment for the company. 

Stock Short Name: ADD INDUSTRY. Stock Code: 603089.

 

ADD has offered 26.67 million shares of common stocks (A Share) to the market, at the IPO price of 11.63 RMB/share. With a P/E ratio of 20.11, the total capital projected to raise at this IPO is about 310 million RMB. Those funds will be specifically used for– Annual output of 6.4million pieces of shock absorbers Project, and the Construction Project of R&D / Test Center for automobile shock absorbers, which will tremendously increase the production capacity and improve the research and development capabilities of the company. The stock price of ADD has surged 44.02% from its price at the open, just a few seconds after the trading officially started, and closed at 16.75 RMB/share on the first day of trading.

 

ADD is the 8th company who has gone public in the year of Monkey (Bingshen) in the city of Taizhou, and is the 44th public traded company in Taizhou. Moreover, ADD is one of the most prominent private enterprises in Taizhou and an outstanding leader in China’s automobile suspension system/shock absorbers industry. After successfully launching the capital market, with the great opportunity of national supply-side structural reform, ADD will be striving to provide products with better quality and more advanced technology to the consumers, and to bring sustainable rewards to our investors.

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