Hikvision Digital Technology , a supplier of digital video surveillance products, announced its initial public offering (IPO) of 50 million shares at the price of US$0.7 per share on the Shenzhen Stock Exchange under the ticker symbol "002415."
This listing will allow Hikvision to invest in product research and development to continue to deliver state-of-the-art products and solutions for customers around the world. Hikvision plans to continue to invest in its logistics and technical service centers in the U.S. and Europe, as well as other regions and markets in order to provide better service to customers.
"Hikvision has kept its leadership position in the digital surveillance market through industry-leading and award-winning products," said Polo Cai, VP of Hikvision. According to IMS Research's global video surveillance report for 2009, Hikvision is the No. 1 supplier of DVR products worldwide.
The company has been ranked three years in a row in Security 50, an A&S International market survey recognizing the top 50 security vendors in the global security market. Hikvision was ranked at 12 in 2009. "We expect that the IPO will help us enhance the brand visibility of Hikvision in the market and award more recognition by our customers," Cai said. "Moreover, becoming a publicly traded company will motivate us to work harder and evolve to be a stronger, more competitive company."
"We consider the listing of our stock a noteworthy way to celebrate the company's significant accomplishments in the last few years and to anticipate new achievements in the future," said Yangzhong Hu, President of Hikvision. "There are large opportunities and challenges ahead of us, we will face it positively and fully utilize the funds gathered from the listing to expand the company's business in video surveillance industry."