Suzhou And Science and Technology Development, a leading local enterprise nurtured in Zhangjiagang, made its initial public offering (IPO) on the Beijing Stock Exchange (BSE) on Feb 10, becoming the city's first company to go public in the new year.
Suzhou And Science and Technology Development makes its initial public offering (IPO) on the Beijing Stock Exchange (BSE) on Feb 10. [Photo/WeChat account: zhangjiagangfabu365]
Since its founding in 2006, the company has become a key player in China's orthopedic medical device industry. It has focused on innovation and growth in this specialized field, striving to build a comprehensive product portfolio spanning the entire orthopedic domain.
In this offering, 29.53 million shares were issued at 7.67 yuan ($1.1) per share. The total funds raised through this public offering amount to 227 million yuan, which will be used for product innovation and research, as well as for the construction of investment projects.
Zhangjiagang aims to continue focusing on the core needs of enterprises in areas such as financing, IPO preparation, and standardized operations. The city will work to integrate quality resources and improve service chains to support the development of more local enterprises.