Infinova announced that shares of Infinova, one of the video surveillance systems manufacturers, were listed on the Chinese Stock Exchange. Infinova will use the US$300 million to grow both organically and through acquisitions. As of today, the market value of Infinova is $1.2 billion. With headquarters in Monmouth Junction, New Jersey, in the U.S., 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 $60 billion raised in China in 2011.
“We look forward to strengthening our global position as the integrator's manufacturer,” said Jeffrey Liu, CEO, Infinova. “As a result of this IPO, Infinova can support our integrators and partners by delivering video systems that meet their customers' business needs.”
The $300 million proceeds from the IPO will help Infinova to expand its global vision, global marketing and strengthen the Infinova brand. In parallel, Infinova will enhance research and development to bring more new video breakthroughs. Through organic growth and acquisitions, Infinova business is expected to expand explosively.
“By leveraging our manufacturing process, certified to ISO 9001:2008 standards, and with more than 290 R&D engineers creating a list of video industry firsts, our channel partners can continue to expand their businesses knowing that we will respond,” Liu said.