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IPO: China Sunsine Chemical Holdings Ltd
By Derek  •  June 29, 2007
By: Derek Lim Price: S$0.39 Placement: 115,000,000 Public: 5,000,000 Date of Offer: 25 June 2007 Closing: 3 July 2007 Commence Trading: 5 July 2007 Underwriter: CIMB-GK China Sunsine Chemical Holdings, based in Shandong Province, China, is one of the largest rubber accelerators manufacturers in the world and in China. It is principally engaged in the production of rubber chemicals, namely rubber accelerators and other related rubber chemicals such as anti-scorching agents, essential for the production of rubber and rubber-related products. It has a customer base consisting of renowned tyre manufacturers from more than 30 countries around the world and various provinces of China. Production facilities are situated in Shanxian, Shandong Province, China, with a combined land area and built-in area of approximately 201,701 sqm and 24,858 sqm respectively. Net proceeds to be raised from the issue of the New Shares (after deducting estimated expenses to be borne by the company of approximately S$3.1m) are approximately S$43.7m. The proceeds are intended for the following uses:
  1. Construct and install new workshops and production machinery and equipment at the Second Facility.
  2. Expand and upgrade wastewater treatment and sulphur recycling facilities
  3. Enhance R&D capabilities.
  4. General working capital
Source: UOB KayHian Kleer's Writeup. Full Prospectus
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By Derek
Derek is an investor who follows Peter Lynch style of investing. He prefers to use simple and straight forward information for stock analysis. He started TheFinance.sg with the intention to bring together all bloggers and professionals who are interested or already in the area of Finance and Investing, and to create a community where everyone is free to write and to share their articles, experience and opinions.
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