The Tsinghua University-backed hydrogen fuel engine producer has reportedly raised at least $67m of the $193m target for its initial public offering.
Beijing SinoHytec, a China-based hydrogen fuel equipment producer backed by Tsinghua University, has filed to raise up to RMB1.5bn ($193m) in an initial public offering, DealStreetAsia reported yesterday.
The company initiated an online roadshow on Wednesday last week and plans to issue approximately 17.6 million shares on the Shanghai Stock Exchange’s Star Market priced at RMB76.65 each. It had sold about $67m of shares by the end of Friday.
Founded in 2012, SinoHytec develops and produces engines powered…
