On July 1, Zhejiang Tianchen Latex Industry Co., Ltd. signed a subscription agreement with 34 investors, successfully issued the second phase of preferred shares, and agreed to raise 10 million yuan. It is reported that this is the company in the province to successfully issue two consecutive preferred shares in Zhejiang Equity Exchange Center.
"Tianchen Latex Industry" is a chemical enterprise specializing in the manufacture and sales of styrene-butadiene latex. Our products are widely used in papermaking, leather, carpets, and other fields. Last year, the company invested 150 million yuan to build a factory area of 39,000 square meters and introduced advanced production lines.
On February 28 this year, Tianchen Latex officially started to raise preferred shares and launched the phase of 10 million preferred shares at 1 yuan per share. After its launch, it was immediately snatched up by upstream and downstream customers and internal employees. Because the company is preparing to go public in the future, subscribing for their preferred shares, in addition to obtaining a 10% annual rate of return, after listing, the preferred shares can also be converted into common shares, which are often referred to as original shares, and the future earnings will be very impressive. On March 12 this year, the company signed a subscription agreement with 30 investors, and the agreement raised 10 million yuan.
On July 1, "Tianchen Latex Industry" made another move and issued the second phase of preferred shares. Among the 34 investors, 8 are old customers of the phase of preferred shares. Zhang Lerong said, "Issuing preferred shares has solved the problem of connecting good projects with private capital. Moreover, through the issuance of preferred shares, upstream and downstream partners have also been connected to a community of interests. The company meets the funds needed for development. It is in large demand but the independent operation of the enterprise will not be affected. This is a win-win situation.”
In the future, "Tianchen Latex Industry" intends to enter the planned listing board of the Zhejiang Exchange Center, and seek to transfer to the Shanghai Stock Exchange for IPO in a few years. "The conversion to common shares (after listing) in the future will dilute the equity of common shareholders, so from the perspective of financing diversification, we will issue private placement bonds next."
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