IPO   

Fuxing China at $0.46

This IPO closes tomorrow. Is it worth subscribing? How is it compared to CMZ Holdings?

 

Zip maker Fuxing China Group will raise $80.5 million in an IPO to expand production capacity. Fuxing China's share offer will close on Sep 20 at 12 p.m. and trading will start on Sep 24.

The company, which is based in the Fujian province in southeast China, will sell 175 million new shares or about 23% of its enlarged share capital at $0.46 a share. The Chinese firm would have a stock market value of $356.5 million, the company said.

The IPO followed a July listing of another Chinese zip maker, CMZ Holdings, with a market value of $82 million.