Raytron and TZTEK Announce Their SSE Sci-Tech Board IPO Prices
'China's Nasdaq' gains momentum: another two shortly-to-be-listed firms published their share issuing prices. The figures amount to CNY 20.00 (USD 2.92) and CNY 25.50 (USD 3.73) per share for Raytron and TZTEK respectively.
Not so long after HYC Technology fixed its IPO first-day share price at the level of CNY 24.26 (USD 3.54), other two companies completed the listing procedures: Raytron’s and TZTEK’s public equity might be found on the Shanghai venue in less than two weeks. The shares of the two will start trading at CNY 20 (USD 2.92) and CNY 25.5 (USD 3.73) in the amount of 60 million and 48.4 million respectively.
Raytron (睿创微纳) represents the second batch of companies to be listed on the SSE STAR Market. And it was among the nine firstcomers that got their applications validated by the authorities on March 22, the day when the germinating sci-tech board disclosed the first group of listing requests received. The Shandong-based company possesses a significant presence in the six industry verticals: security surveillance, industrial temperature measurement, driver assistance systems, forest fire prevention, building energy efficiency assessment, consumer electronic products, and Internet of things. Raytron is a middle-sized firm with 591 employees (this number increased threefold since 2016), over 37% of which are involved in R&D activities of different types as of 2018.
Another manufacturer in the clique – TZTEK (天准科技), the Suzhou-based company from the first batch that was earlier approved for listing on the Shanghai Stock Exchange. The firm’s four core production lines are precision measurement instrument, intelligent detecting and measuring equipment, intelligent manufacturing system, unmanned vehicles. Holding over 60 licenses for patents in these and the adjacent fields, TZTEK is committed to promoting industrial transformation and progress through leading AI technology. It spent around 20% of the operating income on R&D over the last three years.