According to China Securities Regulatory Commission (CSRC), Shandong Cynda Chemical plans to go public at Shanghai Stock Exchange. The public offering of shares will not exceed 20 million shares, accounting for no less than 25% of the companys total shares after IPO. The total equity will not exceed 80 million shares.
It is reported that the company intends to raise 298 million yuan through IPO, of which 133 million yuan will be invested in the companys annual output of 1,000 tonnes of 90% clethodim TC and 1,500 tonnes of 96% clomazone TC, 115 million yuan in the companys comprehensive formulation workshop of a 9,000-tonne annual output and the R&D center, and 50 million yuan as a supplement to the companys working capital. Before the funds fully arrive, the company will use its own funds to start the project first. When the funds arrive, the company will first replace its own capital and invest the rest in the construction of the aforementioned projects. The construction cycles of the above projects are all 12 months.
Marketing plan of Pesticide Technical and formulation products after IPO
The companys gross business income in 2013 reached 691 million yuan and its net profit totaled 70 million yuan, while the gross business income of the company in the first half of 2014 reached 479 million yuan, and the net profit nearly kept up with that of the whole year of 2013, reaching 63.16 million yuan. Of all the products, herbicides accounted for the largest share, respectively 77.08% of the main income in 2013 and 79.74% in the first half of 2014.
