Transsion Holding Finally lists on Shanghai’s Star Market, worths $3.95 billion


Transsion Holdings is now available to the public. During an IPO (Initial Public Offering) on Shanghai’s Star Market, which was held today, the company raised almost $4 billion.

Report from the company after the IPO shows that they sold 80 million shares. Each share went for 35.15 yuan ($4.94), bringing the total to a whopping 2.8 billion yuan ($393 million).

The company has publicly stated that they plan on using the funds to build phone assembly hubs and R&D centres in Shanghai, China. CNN reports that after the IPO, the company’s valuation is now at $3.95 billion. This makes the smartphone company as one of the biggest attractions in the Star Market. The Star Market is the latest Chinese tech-focus stock market.

The success of Transsion Holding’s IPO might come as a surprise to many after the company was sued by Huawei for copyright infringement a day before the listing.

Africa is the main operating market of Transsion Holding. Tecno, Infinix and itel are all under Transsion Holding. Both three smartphone makers hold a combined market share of 48.71% in Africa region. Presently, Transsion Holding is regarded as the fourth-largest mobile phone manufacturer in the world.

Subscribe to our newsletter
Sign up here to get the latest news, updates and special offers delivered directly to your inbox.
You can unsubscribe at any time

Get real time updates directly on you device, subscribe now.

What is your take on this?

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Adblock Detected!

Our website is made possible by displaying online advertisements to our visitors. Please consider supporting us by whitelisting our website.