Superior Fastening Offers IPO

Jason Sandefur

Hong Kong-based Superior Fastening Technology launched an initial public offer of shares to raise S$4 million. The fastener manufacturer is offering 25 million shares at 23 cents apiece, according to the Business Times Singapore.
The company intends to use $2 million to increase capacity in Huizhou and Shanghai, while $600,000 will be invested in heat treatment business. The rest is for working capital.
Superior manufactures and supplies high quality fasteners and provides other specialist services to contract manufacturers. �2003 FastenerNews.com