Asia
Shandong Dongyue Organosilicon Materials Investee Withdraws STAR Market IPO Application
Shandong Dongyue Organosilicon Materials (SHE:300821) investee company Future Materials has voluntarily withdrawn its initial public offering application from the Shanghai bourse's STAR Market.Future Materials cited business development adjustments as the reason for the withdrawal, stating it will pursue a new IPO submission at an opportune time, according to a Tuesday filing with the Shanghai bourse.Shandong Dongyue Organosilicon Materials, which holds a 5.14% stake in Future Materials, said the move will not materially impact its own operations.Shares of the silicon materials producer rose 6% in recent trade.
SHE:300821
