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<IPO> A-Share INOVANCE TECH (300124.SZ) Submits IPO Application to HKEX (00388.HK)
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Mainland industrial robotic arm maker INOVANCE TECH (300124.SZ) has submitted a listing (IPO) application to HKEX (00388.HK). Sponsors include M Stanley, CICC, Guotai Junan International and BofAS. Proceeds from the fundraising will be used for the construction, expansion and upgrading of production bases; continuous product iteration and upgrades as well as the development of strategic new products; and for working capital and general corporate purposes. The company is currently accelerating its deployment in emerging businesses such as intelligent robotics and digital energy. Based on yesterday (28th) closing price, its market capitalization reached RMB166.129 billion. (ta/w)

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