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IPO of Shandong Fiberglass Group in SSE Makes It the 5th Listed Company of Shandong Energy

2020-09-04 11:25:00

In the morning of 3 September, Shandong Fiberglass Group Co., Ltd. (Stock Abbreviation: Shandong Fiberglass, Stock Code: 605006), a holding subsidiary of Shandong Energy Linkuang Group, was listed in the Shanghai Stock Exchange. So far, it became the 5th listed company of Shandong Energy. Mr. Li Xiyong, Chairman of Shandong Energy and Secretary of CPC Shandong Energy Committee, said that Shandong Fiberglass is the first listed company since the merger of former Shandong Energy Group and former Yankuang Group. Under the new development concept, Shandong Fiberglass took advantage of the capital market to build a leading enterprise in the field of new materials with sound governance, sufficient capital and full of innovative vitality.

In the morning, Que Bo, Deputy General Manager of the Shanghai Stock Exchange and member of CPC Shanghai Stock Exchange Committee signed the "Listing Agreement" and exchanged souvenirs with Niu Aijun, Chairman of Shandong Fiberglass and Secretary of CPC Shandong Fiberglass Committee. After that, under the witness of the guests, the second-level inspector of the Shandong Provincial SASAC, Wang Ande, Secretary of CPC Linyi Municipal Committee, and Mr. Li Xiyong jointly sounded the gong to announce the IPO. 

It is reported that Shandong Fiberglass’s A-share issuance price is RMB3.84 per share, and 100 million shares were issued totally. On the first day of listing, the opening price was RMB4.61, and then rose by 44.01% to RMB5.53 per share. The funds raised will be invested in the "80000 tons/a C-CR Special Fiber Technology Upgraded Project" and peration capital. The successful listing will not only increase the profitability but also enhance its market influence and competitiveness.