Jiangsu Safety Wire Rope Co., Ltd. (SAFETY) becomes a public-listed company on the Mainboard of Shanghai Stock Exchange A Share Index at March 31, 2016. The company’s stock is traded under the symbol of “603028”.
SAFETY completes its initial public offering of 55.2 million A shares of common stock with par value of 4.26 yuan per share. The company expects to raise 235.15 million yuan through the issuance for the expansion of Special Wire Rope research & development and also to supplement working capital.
SAFETY is a renowned leader principally engaged in the research and development, manufacture and sales of special wire rope and rigging. The Company’s major products include elevator wire ropes, crane wire ropes, wire rope rigging and synthetic fiber lifting belt rigging. SAFETY products are widely used in industries including elevator, engineering machinery, port operation, coal mining, marine engineering, shipping, ocean fishing, logistics and warehousing, etc
The company offers steel wire ropes for elevator manufacturing, elevator equipment maintaining companies and crane applications. It’s a long-time supplier of elevator ropes and cranes ropes to MITSUBISHI, FUJITEC, OTIS, SCHINDLER, TOSHIBA, KONE, GUANGRI, CANNY, BLT, ZOOMLION, SANY, SUNWARD, XCMG, Liaoning Fuwa, Yantai Port, Nansha Port, Guangzhou Port and Ningbo Port, etc.
Post-listing, SAFETY faces greater responsibilities and increased expectations.