Prinx Chengshan to launch Hong Kong IPO

Hong Kong – Chinese tire maker Prinx Chengshan (Cayman) Holding is expected to debut on the Hong Kong Stock Exchange on 9 Oct, offering 135 million shares subject to over-allotment option at a maximum price of $0.96 (HKD7.5) per share.

The company filed the prospectus in April and its application was approved earlier this month.

A majority of the raised capital is planned to fund its expansions, such as $43 million earmarked for new truck and bus tire capacity and $21 million for new passenger car tire…

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