Filing: China-based Transsion, which commands 53% of Africa's mobile phone market by unit sales, is seeking to raise as much as ~$428M in a Hong Kong share sale (Sangmi Cha/Bloomberg)
Shenzhen Transsion Holdings Co., which dominates the market for smartphones in Africa, is seeking to raise as much as HK$3.36 billion …
China-based Transsion, a dominant player in Africa's mobile phone market, is seeking to raise up to $428 million in a Hong Kong share sale. According to Bloomberg, the company commands 53% of Africa's mobile phone market by unit sales.
Transsion, which has a market capitalization of 62 billion yuan ($9.24 billion), could offer up to 132 million offshore ordinary shares. The public offering is set to run from October 7 to 12, with trading expected to begin on October 15, as per SCMP Business.
The company's three brands - Tecno, Infinix, and iTel - sold more than 91 million handsets last year, capturing 53% of the regional market share. Transsion has expanded into other markets such as Latin America and Southeast Asia, but has no presence in its home market of China.
Brief written by urgent.news from Techmeme, IOL, SCMP Business — 3 reports on this story. Machine-written — may contain errors; check the original before relying on it.
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