The picture shows the special guests and business leaders were beating the opening gong together.
On July 6th, the grand listing ceremony & ceremonial event for the IPO of A share of Shandong Linglong Tire Co., Ltd. was held in the trading hall on the 5th floor of Shanghai Stock Exchange. The special guests and business leaders beat the opening gong of Shanghai Stock Exchange together, marking that Linglong Tire (Stock Code: 601966) was officially listed on Shanghai Stock Exchange and entered the capital market successfully. The guests, including Zhang Wei, the secretary of Zhaoyuan Municipal Party Committee, and Deng Yali, the president of China Rubber Industry Association, presented at the listing ceremony.
At 9:30, the market opened. During the stage of call auction, Linglong Tire opened top with an increase of 20% up to RMB 15.58 Yuan. Then, during the stage of continuous auction, it increased doubtlessly by almost 44% up to RMB 18.69 Yuan, which reached the limit of increase on the IPO day and resulted in a temporary suspension.
It is learned that Linglong Tire issued 200 million shares and raised funds of RMB 2.596 Billion Yuan. Excluding the issue costs, the net amount of funds that it has raised is RMB 2,490.8001 Million Yuan, and its total share capital after issue is 1.2 billion shares.
The funds raised by this issuance will be mainly invested in the project of “Technical Transformation Project of High-performance Saloon Car Radial Tire with An Annual Output of 10 Million Units”, whose accomplishment will annually add 8 million units to the production capacity of super-low-section wet-skid- resistant low-noise radial tires. Such tire is a kind of high-performance saloon car radial tire researched and developed by this company, which ever won the First-class Scientific and Technological Progress Award of Shandong Province, the First-class Scientific and Technological Progress Award of China Petroleum and Chemical Industry Federation, and the Second-class National Scientific and Technological Progress Award. The implementation of this project will not only enlarge the proportion of high-end products of this company, but also realize
the industrialization of the scientific and technological achievements. Meanwhile, parts of the funds raised by this issuance will supplement the circulating funds, which is beneficial for relieving this company’s demand pressure of circulating funds, reducing its financial cost, and enhancing its sustainable profitability.
Shandong Linglong Tire Co., Ltd. is a leading enterprise engaged in tire production in China, which has established production bases in Zhaoyuan, Dezhou and Liuzhou at home as well as Thailand abroad. It has established research and development centers in Zhaoyuan, Beijing and North America, and also set up test detection offices in Europe, all dedicated to developing highly- sophisticated technology in order to provide their customers with pleasant driving experience. Its outstanding products have won the recognition of consumers in more than 180 countries and regions around the world as well as almost 60 automobile manufacturers. Now, the company has been listed in the global supplier system of world-class automakers. In the future, with the help of the capital market platform, Linglong Tire will accelerate and promote its process of brand internationalization to make itself be a world-class tire enterprise with global competence.
