Chinese sliding bearings maker ZOB raises $55m in ChiNext IPO

Chinese sliding bearings maker ZOB raises $55m in ChiNext IPO

FILE PHOTO: An employee works on an assembly line producing electronic cars at a factory of Beijing Electric Vehicle, funded by BAIC Group, in Beijing, China, January 18, 2016. REUTERS/Kim Kyung-Hoon/File Photo

Chinese sliding bearings manufacturer Zhejiang SF Oilless Bearing (ZOB) has garnered 387 million yuan ($55 million) in an initial public offering (IPO) on the ChiNext board of the Shenzhen Stock Exchange on Tuesday (February 18).

ZOB, which initially filed for an IPO application with the China Securities Regulatory Commission (CSRC) in December 2019, offered 21.06 million shares at a price of 18.37 yuan ($2.62).

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