Sichuan Guoguang prepares Chinese IPO
Chinese company Sichuan Guoguang Agrochemical is preparing an initial public offering on the Chinese stock market. The company plans to raise some Yuan 20 million ($32 million at the current rate). Guoguang Agrochemical posted Yuan 602 million ($97.2 million) in revenues in 2013, and had recorded Yuan 499 million ($80.6 million) in the first nine months of 2014. The company’s main products are plant growth regulator and fungicide formulations, alongside water-soluble fertilisers.