Goode EIS (Suzhou) (SHE:301680) launched its initial public offering on the Shenzhen bourse, offering up to 20.7 million shares, according to a prospectus filed Friday.

The IPO shares of the producer of insulating composite materials for new energy vehicles will constitute 25% of the company's entire shareholding following the offer.

Upon completion of the IPO, Goode EIS' share capital will rise to 82.8 million shares.

Soochow Securities (SHA:601555) is the sponsor and lead underwriter of the offering.