Shenzhen Inovance Technology Co., Ltd. has selected banks for a Hong Kong
listing that could raise as much as $2 billion, according to people familiar
with the matter. The deal is being arranged by Bank of America Corporation,
China International Capital Corporation, Guotai Junan International Holdings
Ltd. and Morgan Stanley. The Shenzhen-based industrial robot and automation
maker, founded in 2003 and listed in Shenzhen since 2010, has a market
capitalization of about 182 billion yuan ($26 billion). It makes automation and
robotics systems for industries including plastics, packaging, and steel. The
company said in January it was considering a Hong Kong listing, with size and
timing still subject to change.
