China's Privately-owned Lubricants Producer Plans IPO

摘要

Beijing Monarch Petroleum Chemical Co Ltd, China's largest privately-owned lubricant oil producer, plans to list on an overseas stock market by the end of 2006, according to Li Jia, general manager of Monarch Lubricant Oil, who told the news media in a recent interview. Proceeds from the listing will be used to enhance the company's delivery network and improve its product research and development by establishing China's first lubricant oil research centre. Currently the company has three production units nationwide - in Beijing, Wuxi in East China's Jiangsu Province, and Xiangfan in Central China's Hubei Province, and operates over 1, 400 distribution centers and 47,790 retail outlets. The company attaches great importance to sales and marketing promotion by sponsoring influential sports events and through television advertising.