• Hello Customer - Log in or Register!
Date: 2013-07-31

Steel Pipe Maker Gains 23% On Debut

Jiangsu Yulong Steel Pipe, a producer of welded steel pipes, HSAW steel pipes, longitudinal submerged arc welded pipes, rectangular welded pipes, and ERW welded pipes, debuted on the Shanghai Stock Exchange today.

The company issued 79.5 million shares at 10.8 yuan per share, raising 858.6 million yuan from its initial public offering. The corresponding price earnings ratio waa 19.29 times earnings.

Funds raised will be invested in a transmission pipe production facility, with annual capacity of 250,000 tons.

The company's products are widely used for the transmission of crude oil, natural gas, urban water supply, and in the sewage sector.

Longitudinal submerged arc welded pipes (LSAWP) and high quality HSAW steel pipes are mainly used in the construction of oil and gas pipelines in China.

Following the acceleration in the construction of oil pipelines in China, the company had adjusted its product structure, and had put in more resources into the marketing of its LSAWP and HSAW steel pipes which fetch relatively higher gross profits.

Shares of the company rose 22.59 percent on its debut to close at 13.24 yuan today.


Previous: Luoyang PRS Precision Bearing Co., Ltd Once Again Received the Precision Cross Roller Bearing Order From a Global 500 Company
Next: Baosteel Takes Part in 2011 China International Industrial Fair

Hot Products:
Product Model Inside Diameter Outside Diameter Thickness
KT202611 IKO 20 26 11
KTW202540 IKO 20 25 40
【TradeBearings News Statement】

1.The news above mentioned with detailed source are from internet.We are trying our best to assure they are accurate ,timely and safe so as to let bearing users and sellers read more related info.However, it doesn't mean we agree with any point of view referred in above contents and we are not responsible for the authenticity. If you want to publish the news,please note the source and you will be legally responsible for the news published.
2.All news edited and translated by us are specially noted the source"TradeBearings".
3.For investors,please be cautious for all news.We don't bear any damage brought by late and inaccurate news.
4.If the news we published involves copyright of yours,just let us know.