Infinova IPO Brings $300M through Chinese Stock Exchange
Shares of Infinova, a video surveillance systems manufacturer, were successfully listed on the Chinese Stock Exchange on Dec. 24, 2010, according to a report from the company.
Infinova will use the (US) $300 million to grow both organically and through acquisitions. As of Jan. 6, the company's market value is (US) $1.2 billion. The company is headquartered in Monmouth Junction, N.J.
The Initial Public Offering (IPO) was placed on the Chinese Stock Exchange because it is one of the top IPO markets globally. PricewaterhouseCoopers expects to see (US) $60 billion raised in China in 2011.
"We look forward to strengthening our global position as the integrator's manufacturer," said Jeffrey Liu, Ph.D., Infinova CEO. "As a result of this IPO, Infinova can even better support our integrators and partners by delivering video systems that meet their customers' business needs."
The IPO proceeds also will help Infinova expand its global vision, advance global marketing and strengthen the brand. In parallel, the company will enhance research and development to bring more new video breakthroughs.
For many years, the company has delivered core equipment for video control rooms, megapixel, IP and analog surveillance cameras, specialized cameras, fiber optic communications products and customized systems to customers throughout the world. Some major projects include the Port of Miami, the Panama Canal, Romania's Petromidia refinery, the Bangalore (India) toll surveillance system, the Abu Dhabi National Exhibition Centre (ADNEC), Kuwait International Airport, the 2010 Asian Games, Chile's private jail system, Shanghai 2010 World Expo, the Los Angeles MTA, and Melbourne's West Gate Bridge (Australia).