Dingli launches IPO

Premium Content
Euan Youdale

13 April 2015

Dingli representatives carry out the stock code start ceremony in which red wine is poured into the

Dingli representatives carry out the stock code start ceremony in which red wine is poured into the ice sculpture to convert the stock code number from clear to red.

China’s biggest aerial work platform manufacturer Zhejiang Dingli Machinery has successfully launched its Initial Public Offering on the Shanghai Stock Exchange Main Board.

Dingli was among 24 companies cleared for stock market flotation this month and one of 12 companies to list on the Main Board. The company offered 16.5 million shares, representing 25% of the company’s equity. The shares were priced at 29.56RMB ($4.70) at launch, raising RMB 487.7 million ($78.7 million) and valuing the company at almost RMB 2 billion ($315 million).

The share offering was fully subscribed and has continued to climb in the days since the launch within the limitations allowed by the Chinese government for new issues, said Dingli.

The launch was celebrated with an official signing ceremony at the stock exchange last week, followed by the stock code opening ceremony. The code is 603338 on the Shanghai Main Board.

How to influence construction buyers in an AI world
The buyer journey is now more complicated than ever before, thanks to the AI world. What should construction marketers do to reach their buyers?
A smart cold play: How cold milling can offer a better bottom line for Latin American road contractors
Faced with tight margins, operator shortages and calls for more operational transparency, highway contractors are embracing digitalisation in their cold milling applications
How smarter milling can boost productivity for Latin American road contractors
As contractors across the region face tighter margins, operator shortages and growing demands for transparency, automation and digitalisation are becoming increasingly important in cold milling operations