Shandong Cynda Chemical IPO approved in China

 

The IPO application was submitted for the first time in 2014; there have been some frustrations and setbacks during the application process, but eventually Shandong Cynda Chemical got its access to the capital market. 

 

Shandong Cynda Chemical specializes in herbicide research, production and marketing. Its herbicide products include Clethodim technical and formulations, Clomazone technical and formulations, Imazethapyr technical and formulations, as well as Imazapyr technical and formulations. 

 

The company had earlier introduced products, such as Clethodim, Clomazone, Imazethapyr and Dimethomorph. Its production process and equipment are among the leaders in the industry, and product quality is internationally advanced. Of all its products, capacity for the Clethodim and Dimethomorph technical ranks No.1 in China, while that of Clomazone and Imazethapyr ranks No.2.

 

According to the latest prospectus published in November 2016, this IPO was intended for fundraising of Yuan298 million, to be spent on the company’s annual 1,000-ton Clethodim 90 percent technical, 1,500-ton Clomazone 96 percent technical, as well as the 9,000-ton formulations workshop and research center. 

 

In the future, Shandong Cynda Chemical is prepared to focus on innovation of new pesticides and develop high potent herbicides, which will not cause cross resistance and will be effective against resistant weed. Efforts will also be made to launch one or two patent products with proprietary intellectual property rights in the three years ahead.

 

At present, the company has filed for two patents, which are being examined.