JJ Auto to raise €16 million in Warsaw and Frankfurt IPO
Chinese car parts producer JJ Auto plans to raise up to €16 million by offering 1.78 million shares at €6.75-9 apiece, the company said on Thursday. The shares will be listed on the stock exchanges in Frankfurt and in Warsaw.
Following the approval of JJ Auto’s issue prospectus, the company has announced the IPO schedule. Subscriptions for both individual and institutional investors will take place on May 19-27. The bourse debut is scheduled for June 9.
JJ Auto plans to spend the issue proceeds on launching its own distribution centers, expanding production capacity and other operational goals.
