London Stock Exchange today welcomed GTS Chemical Holdings plc
London Stock Exchange today welcomed GTS Chemical Holdings plc (“GTS”), the largest Chinese manufacturer of ammonium sulfite, to a Welcome Ceremony, celebrating the admission of its shares to trading on AIM. It will be trading under the ticker GTS, and upon admission will have a market capitalisation of £36 million.
In addition to its market leading position in ammonium sulfite, GTS is also China’s second largest producer of ammonium bisulfite, Its operations, based in Shandong Province, benefit from access to lower cost raw materials through the use of waste products from nearby industry as well as proximity to key customers. The Group also operates a lubricating oil blending and distribution business as well as distribution of recarburizer, an additive for the steel industry.
Commenting on the successful admission to AIM, Cheng Liu, Chief Executive Officer of GTS said:
“Our IPO marks the start of the next major phase of development for GTS. It will enable us to broaden our investor base and assist in raising funds to expand our production facilities. We now look forward to further developing the attractive long-term growth opportunities we face in China, with a view to achieving continued profitable growth for GTS and our stakeholders in the years ahead.”
SP Angel Corporate Finance is acting as Nominated Adviser and Broker to the Company.