Technovator lists in HKEx Main Board

Company eyes to raise HK$146.4mn to pursue product and technology purchase opportunities and strategic acquisitions and alliances.

Technovator International Limited (“Technovator”), a leading provider of building energy management and solution services, on Friday announced its proposed listing on the Main Board of the Stock Exchange of Hong Kong.

Technovator plans to offer 122,000,000 shares at an offer price of between HK$1.0 and HK$1.2 per share, with 90% for international placing and 10% to the Hong Kong public, raising approximately HK$122 million to HK$146.4 million before exercise of over-allotment. 

The public offer will begin on 17 October 2011 (Monday) and close at noon on 20 October 2011 (Thursday). The final offer price is expected to be determined on 20 October 2011 (Thursday). The allotment result will be announced on 26 October 2011 (Wednesday). Dealings in Technovator shares will begin on 27 October 2011 (Thursday) in board lots of 2,000 shares under the stock code of 1206.

The proceeds will mainly be used to pursue product and technology purchase opportunities, strategic acquisitions and alliances, and expand the Group’s operations with the view to intensify its penetration in international markets. They will also be applied in strengthening the Group’s research and development capabilities and sales and marketing efforts, while the remaining proceeds will be used as general working capital.

Piper Jaffray Asia Limited is the sole sponsor. Piper Jaffray Asia Securities Limited and Guotai Junan Securities (Hong Kong) Limited are the joint bookrunners, according to a Technovator report.

Mr. Zhao Xiaobo, Chief Executive Officer and Executive Director, said, “Since its inception in 2005, Technovator has quickly become the largest domestic player in China’s energy management systems market, and also through acquisitions, become a pioneering Chinese company able to establish global operations in five countries around the world including China, Canada, France, Singapore, and the U.S. Our Group is primarily engaged in the design, manufacturing and distribution of integrated building automation and energy management systems under Techcon in China and Distech Controls in overseas markets. Armed with its strong R&D capabilities and innovative designs with high performance specifications, the Group has been continuously trusted as a reliable supplier for high profile institutional and government projects, and has won many domestic and international awards and accreditations. We believe the listing in Hong Kong will help boost business expansion of the Group and better promote our products and solutions in the international market.”