BAIC has notched up an exit after the aluminium alloy component provider went public in a $47.8m offering on the Shenzhen Stock Exchange.

Tianjin Ruixin Technology, a China-based aluminium product maker backed by automotive manufacturer BAIC, has floated in a RMB338m ($47.8m) initial public offering, DealStreetAsia reported yesterday.

The company issued almost 25.6 million shares on the Shenzhen Stock Exchange’s ChiNext board late last week priced at RMB12.26 each. They opened at RMB14.71 on their first day of trading and closed at RMB19.42 earlier today.

Founded in 2014, Ruixin produces, sells and exports precision aluminium alloy-based products such as heatsinks, fluid control parts…

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Robert Lavine

Robert Lavine is special features editor for Global Venturing.
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