Tungda Innovative Lighting Holdings hopes to raise about HK$60 million via a Growth Enterprise Market listing this month to expand overseas sales and develop new products, according to market sources.
The lighting-products maker will begin its marketing roadshow and institutional share offering later this month.
Taiwan and Singapore are the key markets targeted by the share offering's underwriting syndicate. Core Pacific Yamaichi Capital is listing sponsor.
Set up in 1993 as a distributor of lighting products, Tungda diversified into manufacturing in 1994.
Its products include induction lamps, compact fluorescent lamps, halogen lamps, ceramic metal halide lamps, microwave sulphur lamps and xenon lamps, which are widely used in exhibition centres, highways, bridges, tunnels and train stations.
The company recorded turnover of more than HK$100 million in the year to March 31 and was profitable in the two financial years before then. About 70 per cent of sales are to the mainland, with the rest to markets including Europe, the Middle East and parts of Southeast Asia.
