TEMB Prices Shanghai IPO to Raise 1.9 Billion Yuan

MT Newswires Live

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Automotive thermal management components manufacturer TEMB (SHA:603448) priced its initial public offering of 30 million shares on Shanghai's main board at 62.65 yuan apiece, seeking to raise 1.88 billion yuan.

Online and offline subscriptions are scheduled on Wednesday, Aug. 26, according to a Tuesday filing on the Shanghai bourse.

Proceeds will fund intelligent thermal management manufacturing, production expansion, a research and development center, and information technology upgrades.

China Securities serves as lead underwriter.

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