BRIEF: Delton Technology gets CSRC nod for Hong Kong listing
China’s securities regulator has approved the Hong Kong IPO plan by Delton Technology (Guangzhou) Inc. (001389.SZ), clearing a key regulatory hurdle for the printed circuit board (PCB) maker to list in the city, according to a posting on the China Securities Regulatory Commission’s (CSRC) website.
Delton plans to issue up to 54.5 million shares, according to the CSRC notice dated Jan. 16 and published on the regulator’s website on Jan. 28. Delton is among a growing group of companies already listed on China’s domestic stock markets in Shanghai and Shenzhen that are raising fresh funds through offshore listings in Hong Kong.
The company posted revenue of 3.84 billion yuan ($552 million) in the first nine months of last year, up 43% from 2.68 billion yuan in the same period a year earlier, according to its preliminary prospectus filed with the Hong Kong Stock Exchange on Dec. 14. Its profit over that time rose 47% to 724 million yuan from 492 million yuan a year earlier.
By Doug Young
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