The Carlyle Group backed GDC Technology Ltd said it is planning to seek about US$100 million in an IPO in the US market. GDC Technology makes digital cinema equipment and the said transaction was confirmed by two individuals familiar with the transaction.
The company is based in Hong Kong and would be filing the IPO application in the next few weeks. Carlyle led a consortium of investors to purchase an 80% share in GDC Technology back in 2011. One of the members of the consortium was Yunfeng Capital, according to a statement issued by the Carlyle Group.
Should the IPO push through, the US$100 million IPO would be the biggest on in the United States for a China based company according to Bloomberg data. In the past two years, IPOs from China dried up because of charges of accounting fraud as well as poor corporate management in the companies listed in the bourse.
According to the information provided by the confidential sources, Barclays Plc and Jefferies Group LLC would be the IPO sale managers. The information thoug could not be immediately confirmed from Connie Wong, GDC Technology spokeswoman when called via telephone.
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