Tianjin-based BOMESC Offshore Engineering has officially listed on Shanghai Stock Exchange today.
According to the company’s IPO plan, BOMESC is issuing up to 58.7m shares at a price of RMB20.8 ($3) per share. The company’s share price closed at RMB29.97 today.
BOMESC is located at Tianjin Binhai area and mainly engages in international EPC services for the offshore oil and gas sectors.
The raised funds from the IPO will be used for the expansion of the company’s construction yard at Tianjin Lingang area.