Three New IPOs Fix Listing Price

Shandong Lipeng (002374) will raise 321.3 million yuan from its initial public offering (IPO), reports NetEase, citing a company filing. It will issue 13.5 million shares at 23.8 yuan per share.

Shandong Lipeng is engaged in the production and sale of various kinds of aluminum plates. It plans to invest 158 million yuan in a production line and overhaul another production line. 

Surekam Corporation (002373) will issue 17.5 million shares at 28 yuan per share. It will raise 490 million yuan from its IPO.

Surekam Corporation provides IT services, integrated computer systems and industrial software development for telecom operators and medium and large sized enterprises.

Zhejiang Weixing New Building Materials (002372) will issue 63.4 million shares at 17.97 yuan per share in its IPO, raising 1.14 billion yuan.

Weixing specializes in the research, production and sale of PPR pipelines, PE pipelines and HDPE pipelines. It accounted for 5.85 percent, 3.06 percent and 3.13 percent of the domestic market of the three products in 2008.