Transsion Holdings is now officially a public listed company.
This is after the company listed its shares on the STAR board. The STAR board is a section of the Shanghai Stock Exchange market that targets stocks of technology companies.
Transsion listed 80 Million common shares at the stock market at an opening price of about 5USD a piece (about Ksh. 500) and plans to raise $394 million (Ksh 39.4 Billion) from the listing. The company is now valued at $4 Billion (Ksh. 400 Billion).
The company plans to use most of the funds from the listing for capacity building in the areas of building more phone assembly hubs, investing in its sales network as well as fending off competition from other market players.
Transsion through its brands such as TECNO, Infinix and itel dominate the African smartphone market with an estimated 54% market share.
Smartphone penetration in Africa is estimated to be at around 30% and hence, there is still some healthy room for growth unlike in developed smartphone markets.
The company is also diversifying its interest and has also gone into the multimedia streaming, building an advertising network and venture investing.
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Kevin is a tech enthusiast and the lead writer at MobiTrends.co.ke. He has been writing about smartphones and tech related topics since October 2012. About Us | Contact Us
