On 15 May 2015, the application for IPO filed by EST Tools Co., Ltd. (“EST Tools”) was passed and approved at the 44th meeting of the Securities Public Offering Examination and Approval Committee for GEM of China Securities Regulatory Commission.

EST Tools is a company dedicated to developing, designing and manufacturing modern cutting tools and gauges.  Its products are mainly used in the manufacturing areas of automobile parts, power equipments, airplane parts and precision machineries.  The company has built a cooperative relationship with hundreds and thousands of automobile manufacturers and turbine manufacturers, including Shanghai Volkswagen, FAW Volkswagen, Shanghai General Motor, Shanghai Turbine Co., Ltd. and Harbin Turbine Co., Ltd. 

The company intends to offer a limited number of 16.67 million shares accounting for 25% of the total issued shares.  The funds so raised will be invested in producing precious and efficient cutting tools with an annual output of 355,000 pieces.

Grandall Hangzhou Office has been retained as the issuer’s counsel, with Mr. Shen Tianfeng and Mr. Lv Qing being key lawyers servicing the case.