Saunaking’s Application for IPO in ChiNext Approved

2011-06-10

CSRC announced on June 9th that Anhui Saunaking Co., Ltd.’s application for IPO was approved. Before the offering, Jiuding Capital is the second largest shareholder of Saunaking, with a share of 8.16%.

Pre-disclosure shows that Saunaking plans to offer 20,500,000 shares in the IPO, and the fund raised will be invested in projects including far-infrared sauna, etc.. Anhui Saunaking is the largest manufacture and operation enterprise in China for household sauna equipment, and is focused on R&D, manufacture and sales of household sauna equipment. The main products mainly consist of household far-infrared sauna and portable sauna products. The enterprise was founded in April 21st, 1995, and was transferred to a stock limited company in December 28th, 2007, and at present has a registered capital of 61,250,000 yuan.