Chinese Smart Card Manufacturer Tatwah Smartech IPOs
Shanghai Securities News, 12/03/10
Chinese contactless integrated circuit (IC) card manufacturer Tatwah Smartech made its initial public offering today on the Shenzhen ChiNext growth enterprise board under the ticker 002515.SZ. Tatwah Smartech issued 30 mln shares at RMB 26 apiece, 24 mln of which were made publicly available. According to Tatwah's prospectus, the company is primarily engaged in the design and manufacture of contactless smart cards, smart tags, and RFID card reader equipment. Funds raised in the offering will be used to expand contactless IC card and electronic tag production capacity, raising annual production capacity of IC cards and electronic tags by 100 mln and 70 mln, respectively, for total annual production capacity of 300 mln units.
Tatwah held a 19% share of the contactless IC card market in 2009, and currently has the largest market share domestically. For the first nine months of 2010, revenue was RMB 187.11 mln, up 2.4% YoY, and net income was RMB 33.11 mln, up 9.2% YoY.
Keywords: Tatwah Smartech 002512.SZ profit revenue telecom production capacity market share IC IC card RFID smart card ChiNext contactless payment IPO
Sending
