Wuxi, China, April 18, 2024 (GLOBE NEWSWIRE) -- Mingteng International Corporation Inc.(the "Company” or "Mingteng International”), an automotive mold developer and supplier in China, today announced the pricing of its initial public offering (the "Offering”) of 1,275,000 ordinary shares, 1,050,000 of which are being offered by the Company and 225,000 by a selling shareholder, at a public offering price of US$4.00 per ordinary share.
Net proceeds from the Offering will be used by the Company for investing in new production facilities to improve production capacity and purchase high-end production equipment, strengthening research and development ("R&D”) capabilities in the mold casting field of turbochargers and new energy vehicle ("NEV”) parts, general working capital, and expanding product types.
These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs, including the expectation that the Offering will be successfully completed.
The story " Mingteng International Corporation Inc.: Details on the Pricing of Its Initial Public Offering Revealed" was covered 2 weeks ago by GlobeNewswire, a news publisher based in United States.
How trustworthy is 'GlobeNewswire' news outlet?
GlobeNewswire is a fully independent (privately-owned) news outlet established in 1998 that covers mostly startups news.
The outlet is headquartered in United States and publishes an average of 0 news stories per day.
It's most recent story was published ago.
What do people currently think of this news story?
The sentiment for this story is currently Negative, indicating that people regard this as "bad news".
How do I report this news for inaccuracy?
You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.
