IPO News | Xizi Technology's Hong Kong stock IPO and “full circulation” of domestic unlisted shares were registered by the China Securities Regulatory Commission

The Zhitong Finance App learned that on July 10, the International Cooperation Department of the China Securities Regulatory Commission issued the “Notice on the “Full Circulation” of Overseas Issued Listed and Domestic Unlisted Shares of Anhui Xizi Technology Co., Ltd. The company intends to issue no more than 26,890,100 overseas listed common shares and list them on the Hong Kong Stock Exchange. The 41 shareholders of the company intend to convert a total of 115,218,724 domestic unlisted shares into overseas listed shares and list them for circulation on the Hong Kong Stock Exchange.

According to the prospectus, Hi-Magnetic Technology is an IDM company in the magnetic sensor industry. It is one of the few companies in the world with a complete portfolio of magnetic sensing technology and full vertical integration across the entire industry value chain. This enables the company to provide one-stop magnetic sensor solutions for leading customers in various industries around the world, including green energy, new energy vehicles and automobiles, industrial automation and robotics, and artificial intelligence infrastructure and data centers. According to Frost & Sullivan, the company ranked 6th among global magnetic sensor IDM companies and 10th among all magnetic sensor companies in terms of 2024 revenue, with a market share of 0.6%.

The names of “fully circulating” shareholders and the number of conversions are as follows: