IPO - Fuxing China Group Ltd

Form Type: F-1/A

Filing Date: 2025-01-31

Corporate Action: Ipo

Type: Update

Accession Number: 000192998025000054

Filing Summary: Fuxing China Group Limited is conducting an initial public offering (IPO) of American Depositary Shares (ADSs), with an offering of 1,500,000 ADSs representing a total of 22,500,000 ordinary shares. Each ADS will represent 15 ordinary shares at an expected price range of US$4.00 to US$6.00 per ADS. The shares are listed on the Mainboard of the Singapore Exchange, with the last reported sale price on January 10, 2025, being SGD0.205. This offering is contingent upon the listing approval from the Nasdaq Capital Market and the completion of filing procedures with the China Securities Regulatory Commission (CSRC). The registration statement was amended and filed with the Securities and Exchange Commission (SEC) on January 31, 2025, reflecting various risks associated with the business operations in mainland China and regulatory compliance issues pertaining to overseas listings. The company has completed the CSRC filing procedures, confirming it has not received any notifications or sanctions from regulatory authorities as of the prospectus date. There have been no dividends paid since 2012, and the company does not plan to distribute any in the foreseeable future as it intends to reinvest earnings for business expansion. The document highlights potential risks including regulatory changes in China that may impact foreign investments and the listing process. Investors are informed of the high degree of risk involved in the investment and advised to review the risk factors carefully before proceeding.

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Form Type: F-1/A

Filing Date: 2025-01-17

Corporate Action: Ipo

Type: New

Accession Number: 000192998025000026

Filing Summary: Fuxing China Group Limited is conducting an initial public offering (IPO) of 1,500,000 American Depositary Shares (ADSs), representing 22,500,000 Ordinary Shares. One ADS corresponds to 15 Ordinary Shares with a par value of SGD $0.02 per share. The company is incorporated in Bermuda, and its Ordinary Shares are currently listed on the Singapore Exchange. The initial offering price is anticipated to be between US$4.00 and US$6.00 per ADS. The offering is subject to Nasdaq approval for listing the ADSs, with an option granted to underwriters for over-allotments of up to 15% of the total ADSs offered. As of now, Fuxing China has no public market for its shares in the U.S. The company has obstacles due to its operations in China and regulatory scrutiny, which might impact its ability to offer securities. Recent regulations necessitate compliance with CSRC filing requirements before proceeding with the U.S. offering. The company has completed necessary filings with the CSRC as of May 30, 2024, yet there remains uncertainty regarding future regulatory approvals and the impacts of fluctuating local laws on operations and investor interests. This IPO represents a strategic move to raise capital and enter the U.S. market while navigating complex PRC regulations that could affect operations and investment mechanisms.

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