Grandway Advised Inov on Listing Project Approved by BSE

On January 3, 2023, Shandong Inov Polyurethane Co., Ltd. (stock code: 834261, “Inov”) was approved by the Listing Committee of Beijing Stock Exchange at its 1st meeting in 2023 for public offering of shares to unspecified investors and listing on BSE.

Founded in 2003, Inov is a professional domestic manufacturer of polyurethane raw materials and EO and PO downstream derivatives, mainly engaged in R&D, production and sales of polyurethane raw materials and EO and PO downstream derivatives, as well as the construction of plastic runways and other sports field projects. The company has a high status and reputation in the polyurethane chemical industry. With excellent R&D and product advantages, Inov and several subsidiaries have been awarded as national/ Shandong manufacturing single champion demonstration enterprises, the “Little Giant” enterprise and a specialized and sophisticated enterprise that produces new and unique products, Shandong gazelle enterprises, Shandong manufacturing high-end brand cultivation enterprises, Shandong new materials leading enterprises top 50, etc.

The proposed public offering of not more than 29,932,700 shares will raised RMB 360 million, which will be used for the expansion project of the annual production capacity of 340,000 tons of polyurethane products after deducting the issuance costs. The expansion project will help expand the scale of Inov’s operation and provide a strong guarantee to further consolidate Inov’s competitive advantages.