Jul. 9, 2007 (China Knowledge) – CMZ Holdings, Jiangsu-based manufacturer of metal, resin and nylon zippers from China, has listed on the Main Board of the Singapore Exchange Securities Trading Limited, Jul. 6, the company announced.

CMZ has launched 76.163 million new shares at $0.23 per share. 1.8 million of which are available to the public, while the remaining 74.363 million shares are for placement. This invitation represents 25% of CMZ's enlarged share capital.

CMZ said its IPO price is at a historical price-earnings ratio of 6.9 times based on its 2006 earnings per share of RMB 0.17. The company said it expects to raise S$15.3 million from this IPO.

CMZ also reported a net profit of RMB 38 million in 2006. From 2004 to 2006, the company's revenue grew from RMB 89.6 million to nearly RMB 160.0 million.

The IPO will close at 12.00 noon Jul. 12. Trading is expected to commence on a "ready" basis Jul.16, the company said.

Funds from the IPO will be used to acquire land use rights, construct new production plants and buildings, acquire new production equipment, R&D, expand sales and marketing network, etc.

Omega Capital Limited is the manager for the listing, while SBI E2-Capital Asia Securities Pte. Ltd. is the underwriter and placement agent.