Hailide to list in stock market.

Zhejiang Hailide New Material Co., Ltd. is launching IPO following the approval by China Securities Regulatory Commission. The company will issue 32 million IPO and then list in Shenzhen Stock Exchange.

Zhejiang Hailide New Material, located at Haining (China) Tricot Warp-Knitted Fabric Sci, Tech and Industry Park in Zhejiang province, is engaged in the research, development, production and sales of polyester fiber filaments, lamp box fabrics, PVC films and geotextiles. The company is one of the biggest polyester fiber industrial filament and lamp box fabric producers in China.

Funds raised will be used in the 14 320 t/a differential polyester fiber industrial filament renovation project and the new 25 000 t/a differential polyester fiber filament for vehicles project.

Construction on the differential polyester fiber industrial filament renovation project was started in November 2006. The new differential polyester fiber filament for vehicles project is expected to be launched in June 2008 and completed in June 2009.