The hottest PTA listed company adds a new force, a

PTA listed company Tian Xinjun Tongkun group passed the initial public offering

China's PTA (purified terephthalic acid) industry continued its booming development momentum in 2010. After the three PTA giants Hengyi petrochemical, Rongsheng petrochemical, Xianglu petrochemical or backdoor or IPO landed in the capital market, another PTA Longtou enterprise knocked on the protection and maintenance of fatigue testing machines and opened the door of the capital market. Yesterday, the issuance and Examination Committee of the CSRC announced that the initial public offering of Tongkun group, which plans to be listed on the Shanghai Stock Exchange, was approved

Tongkun group is a leading enterprise in the polyester filament manufacturing industry. The company's main business is the research and development, production and sales of civilian polyester filament. The main raw materials of polyester filament products are PTA, MEG and pet in petrochemical products, accounting for about 85% of the product cost. According to the pre disclosure information, Tongkun group plans to issue 120million shares on the Shanghai Stock Exchange, with a total share capital of 481.8 million shares after the issuance, and the raised fund of 3.039 billion yuan is used for the 800000 ton PTA project of Jiaxing petrochemical

it is worth noting that the operating profit of Tongkun group has increased explosively in recent years. According to the company's prospectus, the net profit of the company was 104million yuan in 2008, 331million yuan in 2009, and 1.092 billion yuan in 2010. The company said that the operating performance showed a substantial increase, mainly because the price of polyester filament products has continued to rise since 2010, and the company's profitability is not good. We need to understand in detail that the continuous rise of the activity platform has enhanced

the high growth of the company has also attracted foreign investors with the background of Morgan Stanley, an international investment bank. Graphene is basically non cytotoxic. According to the prospectus of Tongkun group, in the capital increase in March 2010, the company introduced msfiberholding limited, a subsidiary of Morgan Stanley Asia Limited, which subscribed 41.8 million shares of Tongkun group at the price of 4.9 yuan/share, accounting for 11.55% of the total share capital before the issuance

the prospectus shows that the current actual controller of Tongkun group is chairman chenshiliang, who directly holds 10.41% of the company's shares and indirectly controls 50.10% of the company's shares through Tongkun holdings, the major shareholder of Tongkun group

PTA listed companies in the strong cycle of the industry are now highly sought after by the market. Insiders said that the strength of Tongkun group should not be underestimated, and its performance after landing in the capital market is worth looking forward to. At present, companies related to PTA in the A-share market, such as Rongsheng petrochemical, s Yihua, *st Guanghua and St Heihua, have performed well in the secondary market

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