Date: 2013-07-31

Nanfang Bearing Company Passed Initial Public Offerings Application

On the evening of Dec. 29th, it was announced in the bulletin of China Securities Regulatory Commission(CSRC) that the Issuance Examination Committee has approved the initial public offerings application of Jiansu Nanfang Bearing Co., Ltd(Nanfang Bearing Company).

According to the preliminary prospectus, Nanfang Bearing Company is to issue 22 million shares at Shenzhen Stock Exchange and the total issued capital will be 87 million shares. Huatai Securities Co., Ltd.(601688) is the main underwritter.

The capital will be used from precision needle roller bearings and one-way bearing assembly projects. The projects will be totally invested in 245 million yuan, in which 181 million yuan is from the initial public offerings.

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