【New Stock IPO】Boqian New Materials plans to issue shares abroad and list in Hong Kong

Bóqian New Materials (Shanghai: 605376) announced that on April 2, it convened the 3rd meeting of the 4th session of the board of directors, at which it deliberated and approved the resolution titled “Regarding authorizing the company’s management to initiate the relevant preparatory work for the offshore issuance of the company’s shares (H shares) and their listing on the Main Board of The Stock Exchange of Hong Kong Limited.”

On Thursday, Bóqian New Materials’ stock price closed at RMB 94.58, down 0.8%, with a market capitalization of RMB 24.7 billion.

Bóqian New Materials stated that, in order to accelerate the development of the company’s overseas business, build an international capital operations platform, optimize its capital structure, expand diversified financing channels, further enhance the company’s overall competitiveness, and support the company’s high-quality development, in light of the company’s overall development strategy and operational needs, the company plans to issue shares offshore (H shares) and list them on the Main Board of The Stock Exchange of Hong Kong Limited. The company’s board of directors has authorized the company’s management to initiate the preliminary preparatory work for this H-share listing.

Bóqian New Materials said that the company plans to discuss the specific advancement work for this H-share listing with relevant intermediary institutions; the specific details of this H-share listing have not yet been determined.

Bóqian New Materials was established in 2010. It is a national high-tech enterprise that integrates R&D, production, and sales of high-end nano metal powder materials, and is a pioneer in R&D of nano materials in China and their industrialized applications. The company’s main business is the R&D, production, and sales of high-end metal powder materials for electronics. Its current products mainly include nano-scale and sub-micron nickel powder, as well as sub-micron and micron-scale copper powder, silver powder, silver-coated copper powder, and alloy powders. Among them, nickel powder and copper powder are mainly used in the production of MLCCs, and are widely applied in consumer electronics, automotive electronics, communications, and other industrial fields such as industrial automation and aerospace. Silver-coated copper powder is mainly used to make low-temperature paste for photovoltaic heterojunction (HJT) cell batteries.

Source: Bóqian New Materials announcement

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