Continuing our reporting on developments in China’s tire industry, August has been an active month, with IPO approvals given to both Triangle and GST. Triangle’s is going well, with the share price of RMB22.07 raising up to USD640m. The 30% share that was sold online was over-subscribed by a factor of over 2000 times. (See
Last week, after many delays, Triangle Tire finally launched a programme to sell up to 200m shares on the Shanghai stock exchange. The issue price will be RMB22.07/share, leading to a potential gain of RMB 4285m (USD 641m) after costs and charges. The issue is scheduled to take place in the first half of September.
Where grip comes from No-one knows the truth about how tires get their grip. We have a pretty good idea, but we don’t know everything about it. We know, for example that grip is associated with a number of factors: Rubber distorting around and engaging with microscopic asperities in the road surface; Weak chemical interactions
The biggest news in the China tire industry over the last weeks has been the IPO share issue of Linglong. It was a great success, with the Linglong share price rising 44% on the first day of trading and subsequently climbing to three times the issue price of RMB12.98. We have to ask: was the
In 30-odd years of reporting on the global tire industry, I’ve come across countless estimates of the number of vehicles on the road with one or more defective tires. The one thing these surveys agree on is that it is a lot. People do not care about tires People in many countries and all kinds
Let me first say that I don’t like discussing politics in public. I think that in general, business tries to do its best, irrespective of the interference of politicians, many of whom are only in post for a few years and cannot take a long term view. And even more of whom have little idea
I’ve just come back from a week in China and wanted to update readers on developments there. IPOs go ahead Linglong has announced that its initial public offering (IPO) is going forward and the company has published its revised prospectus. I have posted a story, together with detailed financials on my company website. The listing
On June 13th, Shandong Linglong Tires Ltd announced a preliminary notice of its initial public offering (share offering) on a Chinese stock exchange. The issuer’s stock is shortened as “Linglong tire”, stock code “601966”on the Shanghai Stock exchange. The company aims to issue 200m shares at RMB12.98 (USD1.97) each, raising a maximum of almost USD400m.
Today we are announcing the top 25 tire makers in the world. All figures in US$ Company Tire sales 2015 Percentage of corporate Corporate sales 2015 Bridgestone $26,262m 83.50% $31,452m Michelin $23,160m 100% $23,160m Goodyear $16,443m 100% $16,443m Continental Co $11,349m 26.50% $42,826m Pirelli $6893m 100% $6893m Sumitomo $6050m 86.30% $7010m Hankook $5466m 100% $5466m
Following the successful launch of our weekly intelligence report on China’s tire industry we have decided to publish a monthly summary of the latest trends. By David Shaw Outlook improving We expect to see tire production volumes rise significantly in June and July. Orders beyond that period are uncertain. Last month we noted that some
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