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Aug 21, ShenZhen Stock Exchange listed the common stock of Invengo Information Technology Co., Ltd, a leading company in Chinese RFID market, under the ticker symbol Invengo (002161). Invengo expected to issue 16.1 million shares at a conversion rate of 13.3 yuan per share. All these issued stocks were valued over 2140 million youn and accounted for nearly 25% of company shares after going public.
The capital raised in this initial public offering will be used to invest in three RFID projects: Design and Industrialization of RFID Tags, Industrialization of RFID Applications in China Railway and other related RFID applications.
Founded in 1993, with the grand RFID projects in China Railway, Invengo Information Technology Co., Ltd is the very first exploiter and dominant leader in Chinese RFID market. The company focus on UHF RFID products which mainly used in railway industry, and has over 50% shares of chinese railway market.
The price of per share rose rapidly since Aug 21 and closed at 56 youn per share by Aug 31, the market value of Invengo reached 3.6 billion youn.
It was an exciting prospect for the entire industry in China, it expected to raise the industry's profile.
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