30 JANUARY 2014AlCircle.com
Zibao Metals Recycling gets a listing on Aim
Edited by : AL CIRCLE
1 min read
Hong Kong’s Zibao Metals Recycling Holdings trades mainly in aluminium, imports them from different international sources before they can resell them into People’s Republic of China.
ZAI is its broker and it is raising about £2million in Hong Kong and Britain. Over the last 3 years it has trebled its sales to £34.7million and profits have almost increased four times to £1.17million as a result of rising demand for aluminium in China and higher metals prices.
Zibao chairman Joe Zhou said: “We see our listing on Aim as a springboard to raise our profile overseas, providing greater access to European suppliers and speeding our growth plans. “The money raised will enable us to expand our overseas supplier network, principally through the acquisition or establishment of recycling yards, and also help us to pursue acquisitions with China.”
ZAI is its broker and it is raising about £2million in Hong Kong and Britain. Over the last 3 years it has trebled its sales to £34.7million and profits have almost increased four times to £1.17million as a result of rising demand for aluminium in China and higher metals prices.
Zibao chairman Joe Zhou said: “We see our listing on Aim as a springboard to raise our profile overseas, providing greater access to European suppliers and speeding our growth plans. “The money raised will enable us to expand our overseas supplier network, principally through the acquisition or establishment of recycling yards, and also help us to pursue acquisitions with China.”
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