Tech Pro Technology Development, a mainland maker of aluminium electrolytic capacitors, plans to raise about HK$200 million in a Hong Kong initial public offering next month to fund capacity expansion.
The company, which runs plants in Shenzhen and Jiangsu province, hoped to raise its aluminium electrolytic capacitors output to 5.5 billion units by the end of next year from 4.2 billion units last year, said executive director Liu Xinsheng.
'The company has been growing very fast in the past few years, thanks to the booming industrial sector and China's economy,' Mr Liu said.
Tech Pro's profit jumped 124 per cent to 56 million yuan last year from 25 million yuan in 2005 on 250 million yuan turnover, up 38.88 per cent.
It will use the proceeds from the offering to repay debt, add new plants and improve its sales network.
'We will be keen on products for the environmental and IT sectors,' executive director Shan Biao said.