Chinese NO:1 PMR manufacturer goes public
The capital collected is going to research and extension of the TETRA DMR and PDT portfolio
On May 27, Hytera successfully completed its initial public offering (IPO) on the Shenzhen Stock Exchange of China. 70 million shares, out of 278 million shares' total capital, were traded publicly with an initial price of CNY19.90 (USD 3.06) per share to total gross proceeds of CNY1,393 million (USD 214.2 million), bringing Hytera to a market value of CNY 5532 million (USD 851 million).
The capital collected from IPO is preliminarily going to the research of digital technologies (TETRA, DMR & PDT standards), extension of the current digital portfolios (TETRA, DMR & PDT standards) , and expansion of global marketing & service network to enhance Hytera's competitiveness & better satisfy customers' demands worldwide.
The public listing of Hytera created a stir among both investors and customers. As one of the few PMR manufacturers listed on the stock market, this move is very significant for Hytera to further enhance our R&D capability, strengthen our sales and service network and reinforce the core competitiveness.
Backed up by leading technologies and uncompromising reliability, Hytera will take this great opportunity to forward its way to become one of the most valuable provider of professional wireless communications and bring our customers unlimited communication.
Take a look at Hytera stock performance in China on Stock Code: 002583
Source: www.hytera.com
