Zhejiang Tianzhen Technology Co Ltd makes its initial public offering on the ChiNext board of the Shenzhen Stock Exchange on Nov 14. [Photo/WeChat account: huzhoufabu]

Zhejiang Tianzhen Technology Co Ltd made its initial public offering on the ChiNext board of the Shenzhen Stock Exchange, on Nov 14, becoming the fourth company from Huzhou, East China's Zhejiang province to be listed this year.

The company raised 1.89 billion yuan ($270 million) after issuing 30 million shares each priced at 63 yuan.

Founded in January 2003 in Huzhou's Anji county, Tianzhen Technology is a national high-tech company specializing in the R&D, manufacturing, and sales of bamboo flooring, flooring accessories and parts, and bamboo planks. Its products have been well received in various developed countries such as the United States, Canada, South Korea, Japan and Australia.

The company's listing has brought the number of listed companies in Huzhou to 48.

The steady increase in the number of listed companies in Huzhou can be attributed to the city's efforts in implementing the "Phoenix Action" plan, an initiative launched by Zhejiang to provide support to enterprises seeking to go public.