BRIEF: LDRobot’s Hong Kong listing approved by CSRC
China’s securities regulator approved the Hong Kong listing plan by Shenzhen LDRobot Co. Ltd., a maker of sensors used in robots, clearing a key regulatory hurdle for the IPO to proceed. LDRobot plans to sell 86.3 million shares in the listing, according to a notice dated on Friday on the China Securities Regulatory Commission’s (CSRC) website. In addition, 25 of the company’s current investors plan to sell another 300 million shares they currently hold.
LDRobot submitted its listing document to the Hong Kong Stock Exchange on Dec. 1, but did not give any fundraising target.
The company’s revenue nearly doubled to 386 million yuan ($56 million) in the first half of last year from 196 million yuan in the year-ago period. Its net loss in the first half of last year narrowed to 13.8 million yuan from 28.9 million yuan a year earlier.
By Doug Young
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