China (PCB UNION)-Jiangxi Welgao Electronics (SHE:301251) has applied for an IPO on the ChiNext Board of the Shenzhen Stock Exchange, with plans to raise 601.3 million yuan (approximately $84.05 million at today's exchange rate, hereinafter the same) on a new facility that will increase its annual production to 3 million square meters.

The construction of a new facility is planned to take the next two years, and the company's 2022 production capacity of 1.9 million square meters is expected to increase by 1.2 million square meters after the fundraising and investment project reaches production capacity.

The company's issuance price is 28.88 yuan ($3.96) per share, and the company expects to raise a total of 972 million yuan ($133.27 million) in the IPO.

About Welgao

Jiangxi Welgao Electronic Co., Ltd. was established on April 7th, 2017, and is located in the Jinggangshan Economic and Technological Development Zone, a national-level development zone in Ji'an City, Jiangxi Province. The company covers an area of 213 acres and is a key investment project promoted by the Ji'an Municipal Government.

The company's main business is the research, development, production, and sales of printed circuit boards. Its products include double-sided boards, multi-layer boards, and various types of boards such as thick copper boards, Mini LED optoelectronic boards, and flat transformer boards. The products are widely used in industrial control, display, consumer electronics, communication equipment, and other fields.

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