Zhejiang Quartz Crystal plans to raise RMB 213.20 mln via IPO

Sep. 1, 2008 (China Knowledge) - Zhejiang Quartz Crystal Optoelectronic Technology Co. Ltd (ZQCOT)<002273>, a China-based photoelectric parts manufacturer, plans to issue 16.70 million A-shares through its planned initial public offering (IPO) in Shenzhen, as per industry sources.

The Zhejiang-headquartered thin-film optics producer plans to sell the new shares at the par value of RMB 1 per share, accounting for 25.04% of its enlarged equity, according to the company's IPO prospectus released earlier.

ZQCOT, with a registered capital of RMB 50 million, plans to raise RMB 213.20 million through the IPO to fund its investment in technology innovation as well as future business expansion.

Domestic brokerage Industrial Securities Co. Ltd was hired to underwrite the share offering.

ZQCOT, which was approved as the High-Tech Enterprise of Zhejiang and the Major High-Tech Enterprise   of National Torch Project, is mainly engaged in provision of OLPF, IR cut filter, IR filter housing assembly, thermal diffusion panel, and cover glass.

Currently, ZQCOT is the world's fourth largest OLPF producer with annual capacity of 14.4 million sets, according to a company's profile.