On May 30, the China Securities Regulatory Commission issued the “Notice on the Filing of Overseas Issuance and Listing of Fuxing China Group Limited (Fuxing (China) Group Co., Ltd.)”
Zhitong Finance App learned that on May 30, the China Securities Regulatory Commission issued the “Notice Concerning the Filing Notice Concerning the Overseas Issuance and Listing of Fuxing China Group Limited (Fuxing (China) Group Co., Ltd.)”. Fuxing Group (FFFZ.US) plans to issue no more than 2,300,000 common shares and list them on the US NASDAQ stock exchange.
According to reports, Fuxing Group submitted an initial public offering (IPO) application to the US Securities and Exchange Commission (SEC) on April 2. The company plans to issue 2 million shares at a price of 4.00 to 4.50 US dollars per share to raise 9 million US dollars. Based on the median value of the proposed issue price range, the market value of Fuxing Group will reach 82 million US dollars. The company's shares are currently listed on the Singapore Exchange.
According to the company's website, Fuxing Group is a modern large-scale comprehensive enterprise group mainly in the zipper industry, involved in bleaching, hardware electroplating, and yarn dyeing and weaving. The Group is headquartered in Jinjiang, China.