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ShenGu Group Prices 1.37 Billion Yuan Shanghai IPO

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Equipment manufacturer ShenGu Group (SHA:601091) has priced its initial public offering on the Shanghai Stock Exchange, seeking to raise 1.37 billion yuan, according to a notice on the bourse Monday.

The company plans to issue 311.0 million shares at 4.39 yuan apiece.

Proceeds will fund green technology industrialization, research and development digitalization, clean energy factory upgrades, and a nuclear pump pilot base.

Subscriptions for the IPO will open on Tuesday.

China International Capital serves as lead underwriter, with Guotai Haitong Securities as joint lead underwriter.

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