Bafang Electrical (Suzhou) Co Ltd, an SIP-based manufacturer of electric components for electric bicycles and scooters, made its debut at the main board of Shanghai Stock Exchange (SSE) on Nov 11. The company plans to raise RMB 1.303 billion through the sale of 30 million shares.

 

Bafang was founded in SIP’s Loufeng Sub-district in 2003 with a registered capital of RMB 90 million. It is the 31st listed (24th A-shares listed) SIP company. The company disclosed that the raised fund will be invested partly in a list of product manufacturing and upgrading projects and partly in overseas operations.