Linglong plans Hong Kong listing, capital increase
Shandong Linglong Tyre Co. Ltd. is planning to list on the Hong Kong Stock Exchange, according to a filing posted on the Shanghai Stock Exchange (SSE), where almost 47 per cent of its shares are traded. The Zhaoyuan, China based company did not provide further details in the announcement, but explained that the fresh equity will be used to finance production expansions, research & development, and marketing initiatives, as well as to generate “general working capital.” The Shanghai filing by Linglong’s board of directors noted that the Hong Kong listing is still subject to multi-agency approval, and that the board would consider market conditions before implementation.