Recently, the Beijing Stock Exchange website announced the decision to terminate the public offering and listing review of Jiangsu Leater Green Packaging Corp.Ltd. (“Leater”).
According to the documents, the Beijing Stock Exchange accepted Leater’s submission of relevant application documents for public offering on June 30, 2023, and conducted the review according to regulations. On March 28, 2024, Leater’s sponsor institution, KAIYUAN SECURITIES, applied to the Beijing Stock Exchange to withdraw the application files for Leater’s listing.
Leater had originally planned to issue no more than 8 million shares on the Beijing Stock Exchange, aiming to raise 100 million yuan, intended for the construction of a project for the production of 21 million square meters of soft pack lithium battery packaging materials annually and supplementary working capital.
According to Leater’s previous prospectus, its annual operating revenue for the years 2020, 2021, and 2022 were 292 million yuan, 315 million yuan, and 335 million yuan respectively. During the same period, Leater’s net profits were 19.7583 million yuan, 19.7469 million yuan, and 23.8429 million yuan respectively.
Public information shows that Leater is a technology-oriented enterprise specializing in research, development, production, and sales of new packaging materials such as paper-plastic aluminum. Its main products cover a variety of soft packaging products including paper-aluminum-plastic soft packaging and PE film, serving well-known enterprises such as L’Oréal, Yumeijing, and Pechoin for both inner and outer packaging.
