Chinese Robot Maker Inovance Files Hong Kong IPO Application
Inovance Technology, a Chinese industrial robot manufacturer, filed for an initial public offering (IPO) in Hong Kong. The move places the company among several mainland tech firms seeking international capital.
Chinese industrial robot maker Shenzhen Inovance Technology submitted an initial public offering (IPO) application in Hong Kong on Tuesday, joining a wave of mainland tech firms seeking capital from international investors. Founded in 2003, Inovance is seen as a cornerstone of China’s industrial automation sector. The company’s shares, listed on the Shenzhen Stock Exchange since 2010, closed at 61.36 yuan on Tuesday, giving it a market capitalisation of nearly 175.3 billion yuan (US$25.6...