JD Capital-invested Limin Chemical Listed on the SSE
On January 27, Limin Chemical Stock Co., Ltd. (Limin Chemical, 002734, invested by JD Capital) was officially listed on the Shenzhen Stock Exchange (SSE). The closing price came in at 15.39 yuan, implying a rally of 43.97%.
Founded in 1995, Limin Chemical mainly focuses on the R&D, production and sales of fungicide and preparations. Its key products include cymoxanil, fosetyl-aluminum, pyrimethanil, nematicidemetham, etc.
As one of China’s largest fungicide manufacturers, Limin boasts the highest capacity of EBDC (ethylenebis-dithiocarbamates), cymoxanail, fosetyle-aluminum, pyrimethanial and methane sodium in China (with the EBDC ranking fourth in the world). With one national PHD station, one provincial technology center, two production bases and five subsidiaries, it has now covered over 70 countries & regions and grown into a national backbone enterprise for pesticide manufacturing.
Among the total issuance of 25 million shares worth 267 million yuan, 22.50 million were issued online and the over-subscription (140x) well demonstrated investors’ recognition; after the issuance, Limin’s share capital will total 100 million.
Prior to the issuance, JD held 19.4% stake in Limin (2009) and was the second largest shareholder.