Tengtou Garden seeking IPO approval
- Details
- Category: Ningbo District
- Published: Tuesday, 20 November 2012 09:19
According to the latest list of IPO applicants released by China Securities Regulatory Commission (CSRC) on November 9, Tengtou Garden in Ningbo's Fenghua has been listed in applicants registered in small plates. The company is located in Ningbo's Tengtou Village, which won the UN Environmental Program's award of the "global 500 best", and was the only village selected for the 2010 Shanghai World Expo.
According to CSRC, Tengtou Garden is undergoing IPO review with Everbright Securities as its underwriter. If Tengtou Garden obtains the IPO approval, it will become the second listed company in Fenghua next to Ningbo Bird Co., LTD, a cell phone manufacturer. It will also become Ningbo's first listed companies at township level.
Tengtou Garden, founded in 1996 by Tengtou Group, is an enterprise whose business covers garden nursery, plant production, sales and service, plant science and technology R & D applications, landscape design, and garden maintenance service. Covering an area of 30,000 mu (4942 acres), Tengtou Garden is one of the largest ornamental planting suppliers in China. It has four seedling bases in the Yangtze River Delta, Pearl River Delta, central and northern China, with more than 200 million trees and 140 varieties. Meanwhile, it plans to build two more bases in southwest and northwest China, which will enlarge its total area to over 50,000 mu (8237acres).
The ownership of Tengtou Group over Tengtou Garden is down to only 20 percent now through ownership reform and several rounds of adjustment since 1996.
