Electric bicycle maker planning IPO
May 22, 2017 Category Stock Markets, Weekly
Dongguan Tailing Electric Vehicle Co (TAILG), China’s third-largest maker of electric bicycles, plans to raise funds through an initial public offering (IPO) to finance its overseas expansion as a proliferation of bike-sharing services crimped sales at home. The company’s exports have recently doubled each year. Overseas sales are expected to generate 30% of total revenue within three years. TAILG shipped more than 20,000 battery-powered bicycles abroad last year, raking in sales of USD50 million. In 2016, China exported 1.34 million e-bikes, up 20.4%, according to the China Bicycle Association.
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