The company which makes spray pumps, aluminium cans and plastic bottles in China, is seeking a listing on the mainboard. It said it will use its IPO proceeds to construct a new factory, upgrade other facilities and install more production equipment. Its two subsidiaries in Jiangsu Province, China, produces and sells spray products used in packaging perfumes, toiletries, pharmaceuticals, and health supplements. The company wants to expand into developing products for the medical sector.

Sunmart says it has 2,000 customers in more than 80 countries across the Asia-Pacific, North and South America, Europe and Africa. Last year, about 61% of its products went to overseas customers, it said. The group says its R&D capabilities allow it to develop new products and customise according to its clients' needs. It benefits as it enjoys economies of scale which allow it to keep unit costs low. The total cost of constructing a plant and the upgrading of existing facilities as well as the installation of additional production equipment is expected to come up to about 150 million yuan.