Gospell Digital Technology Co., Ltd., a Chinese digital television products and satellite TV receivers manufacturer backed by Chinese venture firm Fortune Capital, has completed a listing on the Shenzhen Stock Exchange.
The Hunan province-based company has issued 41.8 million shares at RMB6.31 (US$0.92) per share to raise a total of RMB264 million (US$38 million), Fortune said today.
Founded in 1993, Gospell provides digital TV broadcasting solutions, makes cable network equipment, wireless broadcasting transmission equipment and microwave electronic ceramics.
The company recorded an average annual sales of RMB200 million (US$28 million) to RMB300 million (US$42 million), according to its filings.
Previously, the company raised an undisclosed series A round from Fortune Capital, Greenwood Investment, Jun Yuan Capital and ZTE Venture Capital in 2010. It raised another undisclosed series B round from Fortune Capital, Greenwood Investment and ZTE Venture Capital in 2014.
Gospell said it had raised a total of RMB125 million (US$18 million) in venture investment.
Last month, Chinese customized furniture manufacturer HomeKoo, also backed by Fortune, obtained regulatory approval to list on ChiNext, the NASDAQ-style bourse of the Shenzhen Stock Exchange.
Three other companies baked by Fortune, Tianjin-based polymer additives maker Rianlon Corporation, Hunan province-based exhibition design and construction company Huakai Creative, and Guangdong province-based industry robot maker TopStar also completed listings on the ChiNext in 2017.