Micrometers are one of the most essential tools in any toolbox. Quite a big step from the simple yet functional micrometer on which the company was founded. This technology efficiently interacts with computer-based metrology systems, which form closed-loop measuring networks. The company now features advanced products electronically equipped with unique integration technology. Located in Aurora, Illinois, Mitutoyo USA offers over 6000 products serving multiple manufacturing industries throughout the United States. Known throughout the world for their quality calipers, micrometers, indicators and other advanced measuring devices, it’s no secret that Mitutoyo America offers the best measuring instruments on the market today. Find the best equipment for your operations, and see why this brand has dominated for so long. The pricing will give XD Electric a maximum price earnings (PE) ratio of 34.17 times its 2008 net profit per share on a fully diluted basis, it said in a statement to the Shanghai Stock Exchange published in official newspapers on Monday.Ĭhinese firms typically set the PE of their IPOs at very high levels, often around 50 times their historical earnings, because new listings have traditionally attracted huge speculative interest in China’s nascent stock market.īut the debut of two IPOs in Shanghai over the past month - train maker China CNR Corp 601299.SS and state-owned building firm China National Chemical Engineering 601117.SS - were weak, signalling declining investor appetite.Fortunately, at Penn Tool Co., we offer an expansive collection of high-quality Mitutoyo tools and instruments that leaves little to be desired. That compares with the 7.4 yuan-9.6 yuan range forecast by its underwriter, China International Capital Corp (CICC). XD Electric, which is selling up to 1.3 billion shares in its Shanghai IPO, said it had fixed the price range for the share offer at 7.10 to 7.90 yuan. Companies such as Agricultural Bank of China and HSBC Holdings Plc HSBA.L may list in Shanghai this year.Ĭhinese state-owned enterprises which listed last year, including China Merchant Securities Co 601299.SS and China CNP Corp 601299.SS have seen their shares drop below IPO prices in recent months as regulators sped up approval of new share offers to head off a stock market bubble. “Big companies like XD Electric have limited growth potential, so if prices are set too high, there’s little room left for secondary market investors under current circumstances.”Ĭhinese IPOs may raise more than 320 billion yuan in 2010, 73 percent more than in 2009, PricewaterhouseCoopers forecast.
“Big companies have become more realistic,” said Zhang Xiaodong, analyst at Nanjing Securities Co. China is expected to see a slew of new stock offers in 2010. XD Electric’s lower-than-expected IPO pricing came as several big firms saw share prices fall below IPO levels in recent months, reflecting waning interest toward major offerings. SHANGHAI, Jan 18 (Reuters) - China XD Electric Co 601179.SS, the country's largest maker of electricity transmission and distribution equipment, set a modest pricing range in its IPO to raise up to 10.27 billion yuan ($1.5 billion), in the country's first major offering this year.
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