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    Home > Coatings News > Paints and Coatings Market > It is reported that Longbai Group will submit a form to the Hong Kong Stock Exchange as soon as September to raise at least US$800 million in net profit of 2.435 billion in the first half of the year.

    It is reported that Longbai Group will submit a form to the Hong Kong Stock Exchange as soon as September to raise at least US$800 million in net profit of 2.435 billion in the first half of the year.

    • Last Update: 2021-09-18
    • Source: Internet
    • Author: User
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    Longbai Group intends to go public in Hong Kong
    .
    According to sources quoted by foreign news agencies, Longbai Group plans to raise US$800 million to US$1 billion in Hong Kong and submit a listing application as soon as September this year.
    CICC, Guotai Junan and GF Securities are cooperating with the company on listing matters
    .

    Longbai Group first disclosed its intention to go public in Hong Kong in April this year.
    In mid-August, it submitted the "Approval of Overseas Initial Public Offering of Shares" to the China Securities Regulatory Commission
    .

    On April 30, 2021, Longbai Group announced that in order to further improve the company’s capital strength and international influence, in accordance with the company’s development strategy and business needs, the company plans to issue overseas listed foreign shares (H shares) and list them on the Hong Kong Stock Exchange.
    When the company goes public (hereinafter referred to as "H-share listing"), the company's board of directors authorizes the company's management to start the preparatory work for the H-share listing
    .

    On August 19, the China Securities Regulatory Commission disclosed the "Approval of Overseas Initial Public Offering of Shares (Including Common Stocks, Preferred Stocks, etc.
    and Forms of Stock Derivation)" submitted by Longbai Group Co.
    , Ltd.
    (referred to as "Longbai Group") Materials, the company's departure to Hong Kong for listing has taken a step further
    .

    Longbai Group is a large chemical group mainly engaged in the production and sales of titanium dioxide, titanium sponge, zirconium products and sulfuric acid.
    It is also the largest titanium dioxide company in Asia
    .
    Longbai Group has also entered the field of new energy batteries through new projects, cooperation, and acquisitions
    .

    Recently, Longbai Group released its 2021 mid-year report
    .
    According to the data, the company achieved operating income of 9.
    838 billion yuan, an increase of 55.
    53% over the same period last year; realized total profit of 2.
    856 billion yuan, an increase of 82.
    76% over the same period last year; realized net profit attributable to shareholders of listed companies of 2.
    435 billion yuan, compared with the same period last year An increase of 88.
    33%
    .


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