Shenzhen Hymson Laser Intelligent Equipments, a China-based laser and automation technology manufacturer backed by conglomerate Legend Holdings’ Legend Capital spinoff, has raised RMB728m ($107m) in its initial public offering, DealStreetAsia reported yesterday.
The offering will consist of 50 million shares issued on the Shanghai Stock Exchange’s Star Market priced at RMB14.56 each, according to a regulatory filing cited by DealStreetAsia. Citic Securities is lead underwriter for the offering.
Founded in 2008, Hymson produces equipment that automates parts of the manufacturing process for products such as lithium-ion batteries.
The company provides labelling and marking systems, production line automation technology and laser cutters for materials such as glass or ceramics. It plans to put the IPO proceeds toward beefing up its research centre along with funding laser and automation projects.
Founder and chairman Shengyu Zhao will remain the largest shareholder in Hymson, with a 43.8% stake, followed by Shenzhen Zhaoyin Yahao Innovation Investment, a subsidiary of state-owned China Merchants Bank’s CMB International Capital division, which will hold a 9% share.
Guoxin Lansi Fund will hold a 5.4% stake post-IPO while Legend Capital will own 2.7% and Shenzhen Capital Group 1.8%. All three had joined CMB International Capital to supply an undisclosed amount of seed capital for Hymson in 2018 according to DealStreetAsia.
Image courtesy of Shenzhen Hymson Laser Intelligent Equipments.
