Zhejiang Truelove Co Ltd, located in Yiwu, Zhejiang, is a company dedicated to the home textile business. [Photo/Wechat account: yiwufb]

Zhejiang Truelove Co Ltd completed an initial public offering on the Shenzhen Stock Exchange on April 6, becoming the sixth company based in Yiwu, Zhejiang province that has been listed on domestic bourses.

Founded in 2010, the company focuses on the business of home textile products like blankets. It plans to raise a total of 375 million yuan ($57.26 million) by issuing a maximum of 25 million shares.

Currently, there are nine listed companies in Yiwu, with a total market value of 50.1 billion yuan. The city is seeking to promote the listing of more local enterprises via mergers and acquisitions, as well as investment promotion.