Following the listing of Yingde Gases and Hangzhou Hangyang, Hunan Kaimeite Gases has become the latest Chinese industrial gas company to now be listed in the capital market.
With its headquarters in Yueyang of Hunan province, Kaimeite has a total production capacity of 310,000 tonnes of food grade CO2, among the three manufacturing sites in Yueyang, Anqing in Anhui province and Huizhou in Guangdong province.
The site in Huizhou also produces up to 20,000 tonnes of dry ice per year. A fourth manufacturing site is being constructed in Beijing with a production capacity of 200,000 tonnes per year, with the carbon dioxide ‘tailgas’ to be provided by Yanshan Petrochem. Kaimeite is also planning to start production of high purity liquid argon (20,000 tonnes per year) and hydrogen (36 million m3 per year) in three years time.
Hangzhou Hangyang had previously expressed its desire to list on the stock market in China in a 2009 interview with gasworld magazine, and has now done so. Kaimeite became listed on the Shenzhen Stock Exchange on 18th February 2011 and 20 million ordinary shares were issued.
The listing price was RMB 25.48 per share and soared by 47.17% on the first day of listing.
With the favorable business environment in China, the industrial gas business grows by a minimum of 20% each year and gasworld might expect further industrial gas companies to be listed in the next few years.