SinoTech Energy will float 19.7 million American depositary shares (ADS), each representing two ordinary shares worth a maximum $4.75 each
SinoTech Energy, a China-based provider of enhanced oil recovery services formerly known as Tianjin New Highland Science and Technology Development Company, has set the terms of its flotation on the Nasdaq stock exchange.
SinoTech will float 19.7 million American depositary shares (ADS), each representing two ordinary shares worth a maximum $4.75 each, according to its amended regulatory filing.
At its initial public offering (IPO), SinoTech will issue 15.8 ADSs and its shareholders will sell 3.95 million.
Outside of management,…
