Asia
Xinde New Material Tech's Investee Company Applies for Shenzhen IPO; Shares Down 5%
Liaoning Xinde New Material Technology's (SHE:301349) investee company, Henan Guangyuan New Material, applied for the listing and offering of shares on the Shenzhen Stock Exchange's ChiNext market, according to a Tuesday bourse filing.Guangyuan New Material is a manufacturer of electronic-grade glass fiber products.The Chinese chemical manufacturer currently owns 0.69% of Guangyuan New Material, which represents 3,430,000 shares.Xinde New Material's shares dropped 5% during the morning trade.
SHE:301349
