Chint, Sinopec, Intel, Wanxiang and Lenovo-backed process automation technology producer Supcon has priced an offering on Shanghai's Star Exchange.

Zhejiang Supcon Technology, a China-based industrial automation technology provider backed by corporates Chint, Sinopec, Intel, Wanxiang and Lenovo, will raise RMB1.76bn ($268m) in its initial public offering, DealStreetAsia reported yesterday.

The offering consists of about 49.1 million shares that will be issued on the Shanghai Stock Exchange’s Star Market and priced at RMB35.73 each. Shenwan Hongyuan Financing Services is principal underwriter for the IPO and Citic Securities is joint underwriter.

Supcon produces process automation technologies for use in manufacturing, petrochemical…

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Robert Lavine

Robert Lavine is special features editor for Global Venturing.
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