China Treasures New Materials Hong Kong IPO Reveals Windfall From Plastics Ban

Revenue and profit have surged in the past three years on the back of Beijing’s policies, with listing crucial to expansion plan across China Key takeaways: China Treasures New Materials, the biggest producer of biodegradable plastics in northeastern China, has applied for a Hong Kong IPO to raise cash to expand production capacity Plastics ban by the Chinese government means traditional plastics bags must be replaced with biodegradable alternatives, which has produced a windfall for the company By Tina Yip One of the world’s toughest bans on plastics introduced by…

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FAST NEWS: Gogox Reduces IPO Fundraising Amount in Face of Huge Losses

The latest: Online logistics platform Gogox Holdings Ltd (2246.HK) announced details of its IPO, which began on Tuesday and closes at noon on Friday, with an admission fee of HK$4,343.35 ($556) per lot of 200 shares, and is expected to be listed on 24 June. Looking up: The IPO was supported by two cornerstone investors, Chery Commercial Vehicle (Anhui) and GF Global Capital, which together subscribed for 23.17 million shares, representing approximately 3.8% of the total issued share capital of the company. Take Note: The company plans to issue 31.2 million…

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ReneSola Encounters Headwinds but Looks Better Positioned Than Most

Solar farm builder reports 85% revenue plunge and first-quarter loss, but sees situation improving through the year Key Takeaways: ReneSola has encountered recent headwinds due to Covid-related lockdowns in China and withdrawal from a major U.S. project Company looks better positioned than peers from other industries due to accelerating focus on renewable power construction in the west By Doug Young Its inclusion in a couple of solar promotion programs powered solar farm builder ReneSola Ltd. (SOL.US) to a market-beating performance on Tuesday, defying a bigger selloff that saw the S&P…

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