Zhejiang Danau Industries Co Ltd makes its initial public offering on the Beijing Stock Exchange on Dec 29, becoming the 71st listed company from Taizhou, East China's Zhejiang province. [Photo/taizhou.com.cn]

Zhejiang Danau Industries Co Ltd made its initial public offering on the Beijing Stock Exchange on Dec 29 and became the 71st listed company from Taizhou, East China's Zhejiang province.

It is also the second Taizhou-based company that went public in December.

The company issued 18.68 million shares at a price of 7.5 yuan ($1.07) per share. 

Founded in Taizhou's Luqiao district in 2007, Danau Industries is mainly engaged in the R&D, production and sales of high-pressure cleaning machines. 

It has been listed as a national "little giant", which refers to industry leaders recognized by the Ministry of Industry and Information Technology with excellent innovation capabilities, large market shares, core technologies, as well as high product quality and profitability.

The company has made a number of technological breakthroughs in recent years. As of June, it had obtained 88 patents, including 11 invention patents.