Chinese company Sentury Tire went public
Sep 13, 2020
Chinese tire manufacturer Sentury Tire, based in Qingdao, went public on September 11, 2020 on the Shenzhen Stock Exchange. 11% of the issued shares were placed on the exchange at a price of 18.96 yuan ($2.77) per share. According to media reports, the company raised about 1.31 billion yuan.
This is the second time Sentury Tire has attempted an IPO. The company previously tried to go public to raise funds to build a plant in the United States, but the project was frozen for a number of reasons, including the trade conflict between the United States and China.
Sentury manufactures passenger car, light truck, truck and industrial tires, as well as aircraft tires. The company sells products under the Delinte, Landsail, Groundspeed and Sentury brands.