A total of 15,250,000 shares were issued in the initial public offering, including 12,990,000 new shares and 2,260,000 shares sold by the company’s shareholders. The offering, priced at RMB20.48 per share, generated RMB228,831,800 in net proceeds. With a P/E ratio of 23.01, its price increased by 43.99% on the inaugural day of trading and closed at RMB29.49 per share.
Forbon is the largest fertilizer auxiliary provider in China that possesses the strongest R&D capacity and the most complete range of products. It has formed partnerships with Spain’s Kao Chemicals Europe, Holland-based NovoChem and France’s PST.
The IPO was advised by a team comprising senior partners Yu Xugang, Xu Feichi, Wang Fang, partner Li Jieyu and associates Long Zhifeng, Chen Fenfen, Zhao Weichang and Kang Ping.