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Sentury Tire IPO approval ‘ensuring company’s advancement’ – Davanti

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Chinese manufacturer Qingdao Sentury Tire received approval for an initial public offering (IPO) on the Shenzhen Stock Exchange earlier in the month. The tyre maker is mainly known in the UK for supplying Landsail tyres through wholesaler Grouptyre, as well as being a manufacturing partner of Davanti Tyres. Tyres & Accessories asked Sean Maddocks, Davanti sales director for UK and Ireland, what the IPO would mean for its own relationship and growth plans.

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Prinx Chengshan invests £19 million in purchasing land for new Thailand tyre factory

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Having rejected earlier plans for a new tyre factory in Malaysia, Prinx Chengshan has invested 170.6 million yuan (£19.464 million) in buying at least 433,600 square metres of land in at Tambon Nong Suea Chang, Amphur Nong Yai, and Tambon Klong-Kew, Amphur Ban-Bung, Chonburi province in Thailand. According to stock exchange filings dated 25 December 2018, the deal comprises “several plots of land” and will be funded by the company’s recent global share offering.

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Prinx Chengshan the only HKEX-listed tyremaker at Tire+

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Based in the city of Guangzhou, the Guangzhou International Automobile Exhibition is particularly close to the Chinese off-shore territories of Hong Kong and Macau. Still, despite the show’s proximity to such personal and corporate wealth, Prinx Chengshan unique inasmuch as it was the only Hong Kong stock exchange (HKEX) listed tyre manufacturer at the show.

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Kesoram to spin off Birla Tyres

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On 4 December Kesoram Industries Ltd (part of the BK Birla Group of Companies) announced its intention to demerge its Birla Tyres Ltd business. As a result, Birla Tyres will become a listed company with its own shareholders. The demerger is scheduled for 1 January 2019.

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Jiangsu General investing US$300 million in Thailand tyre plant

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Jiangsu General Science Technology Co. Ltd. is set to invest around US$300 million in the construction of a tyre manufacturing facility in Thailand. The news follows earlier reports published in the Spring that Jiangsu General was considering Cambodia for the investment.

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Fintyre acquisition shows fast-growing firm is ‘doing OK’

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European finTyre Distribution (EFD) has been growing rapidly since its private equity owners Bain Capital backed the acquisition of Italian tyre wholesaler Fintyre back in March 2017. Since then the company has been on the acquisition trail, buying Pneusmarket and Franco Gomma in Italy as well as Reiff and most recently Reifen Krieg in Germany – all in order to build a “European tyre distribution group”. Tyres & Accessories recently spoke with Fintyre managing director Mauro Pessi and asked who’s next and what’s the exit plan?

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Vietnam Rubber Group announces IPO

Vietnam Rubber Group (VRG), a state-owned business and country’s largest rubber producer/exporter, is scheduled to launch an initial public offering (IPO) on 2 February 2018 with shares being listed on the Ho Chi Minh Stock Exchange in June or July.

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Pirelli IPO marks landmark in new ownership structure

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If Pirelli’s sale to the ChemChina-led consortium in 2015, along with the legal and integration work in 2016 wasn’t enough, 2017 is proving to have been another complex and busy year for Pirelli. The last 12 months have seen the company pass two key landmarks in its post-acquisition strategy: the separation of the industrial tyre business (including industrial, truck, OTR and agricultural operations) into the new Prometeon Tyre Group in the first part of year; and the successful re-listing of the Pirelli in the autumn. The latest news is that Pirelli’s major shareholder – Marco Polo International – has increased its shareholding in Pirelli following the IPO by exercising a greenshoe option.

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Uniwheels for sale? Controlling shareholder assessing “strategic options”

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A sharp dip in the Uniwheels AG share price was reversed on the afternoon of 4 October after the company informed the Warsaw Stock Exchange (WSE) about its controlling shareholder’s decision to “assess its strategic options.” Uniwheels Holding (Malta) Ltd., a holding company owned by former Uniwheels chief executive officer Ralf Schmid and his brother Michael, is currently “at an initial stage” with its assessment, reported the German alloy wheel manufacturer.

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Triangle IPO underway

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Triangle Tire’s initial public offering (IPO) got underway as planned on 9 September with the company becoming a public traded entity on the Shanghai Stock Exchange. The listing became active 10 September 2016 following approval by the China Securities Regulatory Commission (CSRC) on 19 August 2016.

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Triangle to upgrade PCR and TBR production with IPO funds

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Following yesterday’s confirmation that Triangle is going ahead with the initial public offering (IPO) on the Shanghai stock exchange the company planned last year, the company has revealed a number of other key details.

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Triangle IPO on for early September

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The China Securities Regulatory Commission (CSRC) approved Triangle Tires’ most recent initial public offering (IPO) bid. Qingdao, Shandong Province-based tyre manufacturer Triangle was one of 13 firms to receive a CSRC go-ahead on Friday 19 August. The IPO is set to take place in Shanghai. An official IPO announcement is expected in September.

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Linglong market value exceeds RMB 50 billion

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When the Shandong Linglong Tire Co., Ltd. IPO went live on 6 July and the tyre maker’s shares became available on the Shanghai Stock Exchange, their value increased by 44 per cent on the first day. The company reports that by 19 July the total market capitalisation in Linglong Tire had reached RMB 50.508 billion (£5.7 billion), giving the company the top ranking from 33 ‘A’ share (mainland China-based) listed companies in Yantai, the number three spot amongst ‘A’ listed companies in Shandong and 128th position in China as a whole.

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Linglong IPO attracts 2000x more interest than offer

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On 21 June Shandong Linglong Tyre Co Ltd announced it would issue 200 million shares of common stock at 12.98 yuan per share as part of its initial public offering (IPO) on the Shanghai Stock Exchange. At the time, the company said it expected to raise roughly 2.60 billion yuan, which various news sources suggest is intended to fund investment in new tyre production lines.

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