Tongyu Advanced Materials (Guangdong) (SHE:301630) filed for an initial public offering on the ChiNext board of the Shenzhen Stock Exchange, seeking to raise up to 840 million yuan, according to a prospectus filed with the bourse on Friday.

The Chinese manufacturer and distributor of resin products is offering 10 million shares, accounting for 25% of its total share capital after the IPO. It has priced the IPO at 84 yuan per share.

Proceeds from the IPO will mainly be used to fund the construction of a new factory that is expected to produce 200,000 tons of electronic resins per year.

Industrial Securities is serving as the sponsor and lead underwriter of the offering.

Subscriptions will begin on July 1.