Webstock Information Systems, China’s derivatives trading software manufacturer, applied for an IPO on Shenzhen’s ChiNext board for the second time, reported Caixin.
Webstock applied to the Shenzhen Stock Exchange on Friday with plans to sell a maximum of 13.34 million shares. The company’s IPO follows efforts to grow the derivatives market to meet rising demand for hedging tools.
The firm plans to dedicate RMB 195 million ($30 million) from the IPO towards the development of a quantitative investment system, RMB 173 million towards the development of an improved asset management system, RMB 156 million towards research, and RMB 129 million to restock liquidity.
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