Wuxi Hyatech debuts on STAR Market

Wuxi Hyatech Co Ltd. [Photo/WeChat account: xinwu_wx]

Wuxi Hyatech Co Ltd made its debut on the STAR Market of the Shanghai Stock Exchange on Dec 16, becoming the fifth Wuxi National Hi-tech District (WND)-based company to list this year.

Wuxi Hyatech Co Ltd raised 528 million yuan ($143.4 million) in its initial public offering (IPO).

The company said that the capital raised will be used to expand production capacity for the core components of aircraft engines, as well as for the construction of its new research and development (R&D) center.

The STAR market is the Shanghai Stock Exchange's sci-tech innovation board. It was inaugurated in June 2019 and designed to focus on companies in the high-tech and strategic emerging sectors.

Four enterprises based in WND have debuted on the STAR Market since 2019, including the CHISON Medical Technologies Co Ltd, China Resources Microelectronics Ltd, Wuxi Autowell Technology Co Ltd, and Wuxi Chipown Micro-electronics.

Established in 2013, Wuxi Hyatech Co Ltd is a high-tech enterprise specializing in the R&D, manufacturing, and marketing of core components of aircraft engines, as well as medical and orthopedic implant forgings.