China Digital TV rises more than threefold in U.S. Exchange
Price of China Digital TV Holding's
Formerly known as Beijing Novel-Tongfang Digital TV Technology, China Digital TV closed at US$51.08 from its IPO price of US$16 on the third trading day.
The company raised US$192 million from its IPO issuance, exceeding the target of US$150 million. The proceeds will be used to fund R&D, sales and marketing, acquisitions and general corporate purposes.
China Digital had installed its systems with 130 digital TV network operators in China. Net income of the company reached US$12 million in the first half of 2007, compared with US$3.4 million in the same period last year. Its revenue also rose from US$10.4 million to US$21.6 million during the same timeframe.
The company's chairman Lu Zhengxiang and CEO Zhu Jianhua have an equal stakes of 10.3% in the company. In addition, each of them has an indirect interest through China Capital, a shell company.
China Digital TV produces software used in conditional access systems, which is the most important component to support pay-TV platforms, and set-top boxes for digital TV consumers. It also sells smart cards to TV network operators for an access its programs.
No comments:
Post a Comment