September 6 -- The initial public offering (IPO) applications of three companies were approved on September 3, reports China Daily citing information from the China Securities Regulatory Commission (CSRC).
Qingdao Hanhe Cable plans to issue 50 million shares on the Small and Medium Enterprises Board. The company's enlarged share capital totals 470 million post-listing.
Hanhe Cable specializes in the research, production and sales of cable and cable auxiliaries. Funds raised through the IPO will be invested in five projects including a submarine cable and a special-purpose wire production base, with an annual capacity of 1,500 kilometers and 22,500 tons respectively. Total investment value of the five projects could hit 1.01 billion yuan.
Fujian Green Pine, a producer of turpentine derivatives and fragrance, and Hebei Sailhero Environmental Protection High-tech, a producer of environmental monitoring equipment, will be listed on ChiNext Board.
CSRC will review the IPO applications of Chenguang Biotech Group and Shenzhen Sunway Communication on September 7. Both companies plan to be listed on ChiNext Board.