TIANJIN, China, Dec. 16, 2010 (GLOBE NEWSWIRE) -- Shengkai Innovations, Inc. (Nasdaq:VALV) ("Shengkai Innovations" or the "Company"), a leading ceramic valve manufacturer in the People's Republic of China (the "PRC"), today announced that the Company is commencing an offering of shares of its common stock in a public offering. Global Hunter Securities, LLC and Maxim Group LLC are acting as the joint book runners for the offering.
A registration statement relating to the ordinary shares was declared effective by the Securities and Exchange Commission on October 25, 2010. A prospectus supplement relating to the offering will be filed with the Securities and Exchange Commission.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities nor will there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.When available, copies of the prospectus supplement and accompanying prospectus relating to these securities may be obtained by contacting Global Hunter Securities, by mail at 777 Third Avenue, 36th Floor, New York, NY 10017, Attention: Henry Costa or by telephone at (646) 264-5608 or Maxim Group LLC, by mail at 405 Lexington Avenue, 2nd Floor, New York, NY 10174, Attention: Syndicate Desk or by telephone at (212) 895-3685. About Shengkai Innovations, Inc. Shengkai Innovations is engaged in the design, manufacture and sale of ceramic valves, high-tech ceramic materials and the provision of technical consultation and related services. The Company's industrial valve products are used by companies in the electric power, petrochemical, metallurgy, and environmental protection industries as high-performance, more durable alternatives to traditional metal valves. The Company was founded in 1994 and is headquartered in Tianjin, the PRC.