CR Chem-Mat held the listing ceremony for initial public offering of A shares
2021-10-26,General Office

On October 26, CR Chemical Materials Technology Inc. (stock code: 301090, stock abbreviation: CR Chem-Mat) held the listing ceremony for initial public offering of A shares on the Shenzhen Stock Exchange, marking its official access to the capital market.

Wang Xiangming, Chairman of the Group, Li Fuli, Vice General Manager and Chief Financial Officer of the Group, Chen Xiaojun, Vice General Manager of the Group and Chairman of CR Chem-Mat, Liang Yibo, Vice Secretary of Changzhou Municipal Committee, Liu Naisheng, Director of Investment Banking Management Committee of China Securities Co., Ltd., and the person in charge of CR Chem-Mat jointly rang the bell to announce the official opening of CR Chem-Mat.

CR Chem-Mat offered 221,912,500 shares to the public at the issue price of RMB10.45 per share and raised proceeds of RMB2.319 billion which will be used for the polyester project phase III with an annual output of 500,000 tons, the PETGT special polyester project with an annual output of 100,000 and projects for R&D test site . A shares of CR Chem-Mat traded at RMB14.6 on the first day of listing, up 39.71%.

Looking forward, CR Chem-Mat will continue to adhere to the strategy and culture of China Resources Group and leverage the opportunity of “double-hundred action for the reform of state-owned enterprises” while consolidating its polyester business,strengthening its technology power and optimizing its advanced new material business to accelerate its industry upgrade. The company will strictly fulfill its responsibilities and obligations as a listed company, improve corporate governance, and reward its shareholders, customers and the society with sustainable, stable and healthy development in the future.