SHENZHEN, China—Chinese major rubber group Zhongding Co. has announced that it is planning to list on the SIX Swiss Exchange as part of the strategy to "deepen international layout" and "move toward intelligence and electrification."
In a filing with the Shenzhen Stock Exchange Oct. 10, the group, which has recently expanded with a number of overseas acquisitions, said the decision had been approved by the board of directors and shareholders.
The listing can be formally implemented after being approved by the competent domestic and foreign regulatory agencies.
In discussing the decision, Zhongding said it had entered the "overseas management and control" stage, building "a global organizational structure system."
The listing, it said, will help the group accelerate growth in new energy vehicles, while strengthening position in domestic and overseas markets, such as North America.
The move will also support Zhongding in advancing toward "intelligence and electrification" while maintaining "steady growth in traditional businesses."