en.Wedoany.com Reported - The official website of the Shanghai Stock Exchange (SSE) showed on the evening of May 20 that the main board initial public offering (IPO) plan of Fujian Makeng Mining Co., Ltd. (referred to as "Makuang Co., Ltd.") is scheduled to be reviewed by the Listing Review Committee on May 27. This IPO by Makuang Co., Ltd. plans to issue no more than 123.5 million shares.
Makuang Co., Ltd. is an enterprise long engaged in the development and comprehensive utilization of iron ore resources. Its main business includes the mining, beneficiation, and comprehensive utilization of iron ore, the sale of iron concentrate powder and molybdenum concentrate, as well as the mining and sale of limestone. The sponsor for this IPO of Makuang Co., Ltd. is CITIC Securities. During the period from 2022 to the first half of 2025, the company's operating revenues were 2.057 billion yuan, 1.962 billion yuan, 2.05 billion yuan, and 1.045 billion yuan respectively, with net profits attributable to the parent company of 659 million yuan, 654 million yuan, 664 million yuan, and 362 million yuan respectively. The actual controller of Makuang Co., Ltd. is the State-owned Assets Supervision and Administration Commission of the Fujian Provincial People's Government, and its largest shareholder is Fujian Rare Earth (Group) Co., Ltd., with a shareholding ratio of 45.90%.
The IPO of Makuang Co., Ltd. plans to raise approximately 1 billion yuan. After deducting issuance expenses, the net proceeds will be fully invested in the Makeng Iron Ore Mining and Beneficiation Expansion Project. After the implementation of this fundraising project, it is expected to add an annual production capacity of 5 million tons for iron ore mining and beneficiation. The IPO application of Makuang Co., Ltd. was accepted by the SSE on December 4, 2025, and entered the inquiry stage on December 20 of the same year. According to the arrangement of the SSE, this IPO review meeting for Makuang Co., Ltd. will be the 26th Listing Review Committee meeting of 2026.
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