Impro Precision Trading Debut on the Main Board of SEHK
Consolidate Global Leading Position
Keep Implementing “Twin Growth Engines” Strategy
A global top 10 manufacturer of high-precision, high-complexity and mission-critical casting and machined components, Impro Precision Industries Limited (“Impro Precision” or the “Company”, together with its subsidiaries, the “Group”, stock code: 1286) was successfully listed and commenced trading on the Main Board of the Stock Exchange of Hong Kong Limited (“SEHK”) at 9:00am today, with a board lot of 1,000 Shares. Shares of Impro Precision were actively traded with an opening price of HK3.25 per share. A total of approximately 91.10 million shares were traded, with an aggregate turnover of approximately HK$291.82 million was traded. The total market cap reached 5.52 billion.
Morgan Stanley Asia Limited and BOCI Asia Limited are the Joint Sponsors. Morgan Stanley Asia Limited, BOCI Asia Limited, GF Securities (Hong Kong) Brokerage Limited and AMTD Global Markets Limited are the Joint Global Coordinators. Morgan Stanley Asia Limited (in relation to the Hong Kong Public Offering only), Morgan Stanley & Co. International plc (in relation to the International Offering only), BOCI Asia Limited, GF Securities (Hong Kong) Brokerage Limited, AMTD Global Markets Limited and DBS Asia Capital Limited are the Joint Bookrunners and Joint Lead Managers.
Mr. LU Ruibo, the Chairman of Board and Chief Executive Officer of Impro Precision, said, “The official listing of Impro Precision on SEHK today marks an important milestone for the Company’s development, signifying a high recognition on our business strategies and philosophy, and building momentum for the Company’s further and faster development. Meanwhile, entering the international capital market is beneficial for us to diversify our financing channels, thereby upgrading our financial strength and brand image. We are very honored to receive enthusiastic support from our investors. Leveraging our vertically integrated business model, the Company is one of the few domestic corporates offering one-stop solutions, including initial research and development, tooling design and manufacturing, casting, heat treatment, secondary machining, and surface treatment. The Company is committed to providing quality products and services to our customers in order to continuously increase wallet share of renowned customers, while continuing to invest in research and development to optimize production processes and improve operational efficiency. Looking ahead, we will continuously implementing “Twin Growth Engines” strategy to expand global business network and bring good returns to our customers, shareholders and investors.”
Mr. LU Ruibo, the Chairman of Board and
Chief Executive Officer of Impro Precision
Mr. LU Ruibo, the Chairman of Board and Chief Executive Officer of Impro Precision
together with VIP guests and committee members of the SEHK
About Impro Precision Industries Limited
Impro Precision Industries Limited, was founded in 1998 in Wuxi City and its global headquarters was moved to Hong Kong in 2011. The Group is a global top 10 manufacturer of high-precision, high-complexity and mission-critical casting and machined components for diverse end-markets. According to the Roland Berger Report, the Group was the world’s 7th largest independent and China’s largest investment casting manufacturer and also the world’s 4th largest precision machining company in the end-markets of automotive, aerospace and hydraulics, each in terms of total revenue in 2018. The Group was also one of the few domestic suppliers offering one-stop solutions, including initial research and development, tooling design and manufacturing, casting, heat treatment, secondary machining and surface treatment. Impro Precision has established global footprint of 15 production facilities in China, Turkey, Germany, the Czech Republic and Mexico, which are supported by 9 sales offices in China, America, Luxembourg, Germany, Turkey and Hong Kong, as well as warehousing capacities in China, America, Luxembourg and Turkey. The Group has established long-term strategic cooperative relationships with a number of globally recognized industry leaders, selling its products to more than 30 countries and regions.