rongsheng nigeria for sale

Above is the description of our Nigerian customer’s demand. If you are interested in graphite electrodes, please leave message and let us know your requirements. Our technical engineers will provide you with an immediate quotation.If you are involved in this field for the first time, we will recommend the most suitable solution for you!

HONG KONG (Reuters) - Jiangsu Rongsheng Heavy Industries Co Ltd has appointed Morgan Stanleyand JP Morganto finalize plans for its long-awaited IPO in Hong Kong, aiming to raise up to $1.5 billion in the fourth quarter, sources told Reuters on Tuesday.

This is Rongsheng’s latest bid to go public after it failed to raise more than $2 billion from a planned IPO in Hong Kong in 2008, mainly as a result of the global financial crisis.

Rongsheng"s early main shareholders included an Asia investment arm of Goldman Sachs, U.S. hedge fund D.E. Shaw and New Horizon, a China fund founded by the son of Chinese Premier Wen Jiabao.

The three investors sold off their stakes in Rongsheng for a profit early this year, said the sources familiar with the situation. Representatives for the banks, funds and Rongsheng all declined to comment.

Rongsheng’s revived IPO plan comes at a challenging time. Smaller domestic rival, New Century Shipbuilding, slashed its Singapore IPO in half last week, planning to raise up to $560 million from the originally planned $1.24 billion due to weak market conditions.

Given uncertainty in the global shipbuilding business environment as well as growing concerns over a huge flow of fund-raising events in Hong Kong, investment bankers suggest the potential size for Rongsheng could be $1 billion to $1.5 billion, according to the sources.

Rongsheng is seeking to tap capital markets to fund fast growth and aims to catch up with bigger state-owned rivals such as Guangzhou Shipyard International Co Ltd.

Rongsheng won a $484 million deal to build four ships for Oman Shipping Co last year. The vessels would carry exports from an iron ore pellet plant in northern Oman which is expected to begin production in the second half of 2010.

SHANGHAI, March 5 (Reuters) - China Rongsheng said it had scrapped a warrant issue that would have given the heavily indebted shipbuilder a HK$3 billion ($416 million) cash lifeline after it was unable to contact the offer’s only subscriber.

Rongsheng’s shares fell as much as 8.1 percent in early Thursday trade, after it said it would no longer issue HK$510 million worth of warrants to Kingwin Victory Investment Ltd, a Cayman Islands-incorporated investment firm.

In a stock exchange filing, Rongsheng said it had scrapped the issue as it could not contact Kingwin’s owner Wang Ping after media reports said he had been detained by the Beijing police for matters not related to Rongsheng.

“The company has no information as to the details of the incident and has been unable to contact Mr. Wang Ping, which casts doubt over the ability of the subscriber to perform its obligations,” Rongsheng said.

Rongsheng, one of China’s largest shipbuilders, was gearing to move into oil exploration and change its name after becoming one of the most prolific casualties of the global shipping slump. It came close to insolvency in 2013 before agreeing with banks to extend its loans until the end of this year.

The warrant issue that Rongsheng had agreed with Kingwin in October would have entitled subscribers to buy up to 1.7 billion new shares at HK$1.60 each.

This would have raised about HK$3.23 billion for Rongsheng, the firm said at the time. A warrant entitles the holder to buy stock from the issuer at a specific price within a time frame. ($1 = 7.7552 Hong Kong dollars) (Reporting by Brenda Goh; Editing by Miral Fahmy)

Rongtai Aluminum (Nigeria) Co., Ltd specialize in manufacturing all sorts of aluminum profiles, including building aluminum profiles and industrial aluminum profiles. Located in Benin City, Edo State, Nigeria, we have the geological advantage of convenient transportation and business center.

Being a branch of Rongsheng Group Investment Co., Ltd, Rongtai Aluminum was established in October, 2017. Currently the product manufactured by Rongsheng Group Investment Co., Ltd has been renowned not only in Nigerian market, but also in the whole African market, of which includes Time Ceramics, RS Glass, Rongtai Aluminum, etc.

As a large-scale Chinese investment group company in Nigeria, Rongtai also has a rather complete and mature quality control system to make sure that each batch of the profile is above the international standard so that we can meet the satisfaction of every end user. Following the slogan “Rongtai Aluminum, Great Aluminum”, we deem quality as the lifeline to our development. To guarantee the high quality of our product, we import high quality billet and ingot, as well as the high-class coating powder. Moreover, conducted by experienced and professional technicians, our testing lab covers hardness test, coating adhesion test, tensile test, etc.

Rongtai started mass production in April, 2018, and more than 60% of Nigerian market share has been taken within one year. Our main distributors have established and maintained a stable and reliable relationship since the beginning of the foundation. With the common goal and strong belief we share with our long-term cooperators, we have full confidence and faith to make “ Rongtai” to be not only a leader in aluminum industry, but also a renowned brand across the whole Africa.

.With an experience of more than 2 years production and sales in Nigerian market, currently we made an expansion on the extrusion machine in the production department starting from the month of February 2020. Two additional extrusion machines has been assembled and installed, with a total extra output of 600 tons being expected.

Due to the increase in machine in the company, more than 55 top experienced technical engineers and about 300 local staff are employed in order to ensure the best quality of our product and to easily spread our product to every part of Nigeria.