Chinese industrial robot maker Inovance joins Hong Kong IPO queue

Chinese industrial robot maker Shenzhen Inovance Technology submitted an initial public offering (IPO) application in Hong Kong on Tuesday, joining a wave of mainland tech firms seeking capital from international investors. Founded in 2003, Inovance is seen as a cornerstone of China’s industrial automation sector. The company’s shares, listed on the Shenzhen Stock Exchange since 2010, closed at 61.36 yuan on Tuesday, giving it a market capitalisation of nearly 175.3 billion yuan (US$25.6...

By Themis Qi