Zhejiang Zhenshi New Materials (SHA:601112) launched its initial public offering on the Shanghai bourse, seeking to offer up to 261.1 million shares, according to a prospectus filed Friday.

The high-performance fiber fabrics, thermosetting and thermoplastic composite materials manufacturer's IPO shares will constitute 15% of the company's entire shareholding following the offer.

Upon completion of the IPO, Zhenshi's share capital will rise to 1.74 billion shares.

China International Capital Corp. (HKG:3908, SHA:601995) is the sponsor and lead underwriter of the offering.