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.

Will fuel-agnostic engines power the next era of construction?
Flexible engine platforms are emerging as a way to balance performance, flexibility and future regulatory demands
Beyond torque: The challenge of power management for crushing equipment
How OEMs and operators are managing to maximise uptime for equipment that has to pass the ultimate stress test on a daily basis
Crawler-mounted boom lifts rise to the challenge of bridge work
From remote creek beds to inner city overpasses, crawler-mounted boom lifts are proving indispensable for bridge construction, inspection and maintenance