Shanghai, China -- Jiahua Chemicals is planning an initial public share offering to raise money for geographic expansion and possibly business purchases, said vice president Yubo Li at the PU China exhibition held 3-5 September 2014.
Li, speaking exclusively to UTECH-polyurethane.com said his company planned the IPO for the end of 2014 or early part of 2015. The company, which makes specialty polyols, is 80% owned by the Li family. The company is planning to have a presence in the Middle East by the end of 2014 and in the US in 2015.
Jiahua will use the proceeds from the IPO to "buy or build a company in the US and Europe," Li said.
Jiahua was founded in 1998, employs 750 at seven plants across China. It has invested $20m in an research and development centre in Shanghai.
A fuller profile of the firm and its plans is scheduled to appear on UTECH-polyurethane.com in the future.