Both Tannery of the Year finalists for China will float on the stock exchange
01/03/2012
Xing Ye Leather Technology Company, named Tannery of the Year for China in 2011, announced in January that it intends to raise new capital by selling 60 million shares in the business on the stock exchange in Shanghai. Based in Jinjiang City in Fujian Province, Xing Ye has said it hopes to raise more than $95 million as a result of the flotation, which it will invest in a new tannery.
Based in a much more remote part of China, Gansu Hongliang, which received the Highly Commended award for China last year, is also expanding rapidly. The March statement said it was one of more than 500 Chinese enterprises currently waiting to list on the stock exchange, but added it was confident the listing would happen before the end of 2012.
The third Tannery of the Year programme will start in April 2012 and conclude in Hong Kong in March 2013.
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