Jiangsu Yida Chemical, an investment project of China Everbright Limited’s Venture Capital Funds marks IPO launch on Shenzhen A-share market
Marking another initial public offering success for its investment projects, China Everbright Limited (“CEL”; stock code: 165.HK) announced that Jiangsu Yida Chemical Co., Ltd. (“Yida”; stock code: 300721) – an investment of CEL’s Venture Capital Funds, Everbright Guolian Fund and Everbright Jiangyin Fund – today launched an IPO of A shares on the Shenzhen Stock Exchange. Following the listing, the two funds each hold approximately 1.8 million shares of Yida, representing around 3% of the company’s pre-IPO ownership respectively.
Established in June 1996, Yida has been designated as a key enterprise in the National Torch Program, a scheme to develop high-tech industries in China. The company focuses on research and development, production and sales of ethylene glycol and propylene glycol ethers as well as their ester derivatives, all marketed under the “Yida” brand, which are used in a number of industries including coatings, inks, electronics, copper cladding, braking liquids, farm chemicals, pharmaceuticals, printing, cleansers and household chemicals.
Over two decades of growth, Yida has developed into a leading glycol ethers producer in China whose integrated production, research and development, production technology and product quality are on a par with international standards. The company currently holds 26 patents, including 21 invention patents. It is located in the Yangzi River New Materials Industrial Zone in Jiangyin’s Ligang Economic Development Zone.
Everbright Guolian Fund and Everbright Jiangyin Fund are managed by Everbright Huiyi Weiye Investment Management (Beijing) Limited (“Everbright Huiyi”), CEL’s management platform for its VC and new energy funds. Established in April 2007, and staffed by professionals with extensive industry and investment experience, Everbright Huiyi is committed to investing in China’s high-tech and high-growth SMEs at the start-up and growth stages, leveraging IPOs and M&As as principal exit channels.
Everbright Huiyi has invested in 32 projects. It has completed five IPOs, 11 New OTC Board listings and 11 exit projects, with two projects exited through M&As. One of its exit projects, Beijing Hanbang Technology Co., Ltd. (“Hanbang Tech”), was conferred the China VC Golden Eagle Award by the Securities Times in 2017 as the best exit case.
For more information on Yida, please visit www.yidachem.com.
