(Yicai Global) March 27 -- A little-known Chinese smartphone maker is making headlines in Africa and elsewhere. Shenzhen Transsion Holdings Co., which owns popular smartphone brands Itel, Infinix and Tecno in the African market, plans to go public through an IPO in China.
Ignoring Chinese market and therefore it is hardly known among China’s hundreds of millions of smartphone users, Shenzhen Transsion’s IPO plans are of importance in multiple aspects.
Africa’s mobile phone market leader takes a bold step, seeking IPO on China’s A-share market. The move will surely be welcomed by China’s financial authorities who try to encourage large tech companies to seek IPO at home rather than on other stock markets such as Nasdaq. It may also set an example for other Chinese tech and internet firms which plan IPO. Shenzhen Transsion’s backdoor listing plans and following performance on the stock market will closely be watched by sector observers, policy-makers and other players.