PE-backed Technovator International to list in Hong Kong
Technovator International, China’s leading energy management systems company, is seeking to raise up to HK$146 million ($18.7 million) through a Hong Kong IPO. The company is controlled by Shanghai-listed Tsinghua Tongfang, which is part-owned by the investment arm of Tsinghua University. Private equity firms Zana and CTC Capital hold stakes of 29.86% and 9.57%, respectively.
The company is offering 122 million shares at HK$1-1.20 apiece, according to a filing. Piper Jaffray Asia is the sole sponsor and joint bookrunner alongside Guotai Junan International. Technovator International...
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