GSP Automotive Group announced that as of Aug. 17, the manufacturer of undercar products will become an initial public offering (IPO) on the Shanghai Stock Exchange.
“This is a great time to bring partners and GSP Automotive Group together,” said Jiaru Zhou, chairman of GSP Automotive Group. “It’s our honor to share our accomplishments as we drive performance and quality forward into our new era.”
The IPO “will enable GSP to integrate optimized manufacturing, world-class product innovation and the capital market,” the company added in a news release.
GSP will expand the annual production capacity of CV axles by 1.5 million pieces and wheel-hub assemblies by 2.4 million pieces.
“Additionally, the funds will be used to expand GSP’s global marketing network and facilities, improving our position as a market leader in the aftermarket parts industry, the company said. “GSP’s customer-centric core philosophy will enable us to continue our growth trajectory based on high-quality, innovative automotive aftermarket solutions.”
Visit the GSP Automotive Group website for further information.
