Tuesday, April 26, 2005

China's Largest Independent Mobile Phone Designer Plans IPO

From The Standard: Techfaith seeks US$148m

"China Techfaith Wireless Communication Technology, the mainland's largest independent mobile phone designer, will price a US$148 million initial public offering around May 6, sources close to the deal said Tuesday.
Beijing-based Techfaith was founded in July 2002 by former Motorola employees. Lenovo and NEC each contributed more than 10 percent of its revenue last year, according to a preliminary prospectus."

"Besides Techfaith, Chinese software maker Watchdata Technologies, also plans to raise up to US$80 million by selling four million ADS at US$18-US$20 each. Listings of Techfaith and Watchdata will be tailed by other Chinese firms like Baidu, Alibaba, Kingsoft and Focus Media."

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