Hikvision files for large IPO

I don't have a link, as I received the press release as a Word document, but Chinese video products manufacturer Hikvision has announced an initial public offering that should raise a big chunk of change:

“50,000,000 shares at the price of ¥68 per share on the Shenzhen Stock Exchange.”

So, what's that in dollars? By my math, they're talking $10 a share, times 50 million, equals a $500 million capital raise.

That should definitely fuel some R&D.

This listing will allow Hikvision to invest in product research and development to continue to deliver state-of-the-art products and solutions for customers around the world. Hikvision plans to continue to invest in its logistics and technical service centers in the US and Europe, as well as other regions and markets, in order to provide better service to customers.

I think the company still isn't well known here in the US, and they'd like to change that. The number 1 maker of DVRs in the world probably isn't happy that no one in the largest security market (if the US is still the largest security market) really knows who they are.

With 2,700 employees, 700 of whom are engineers, it wouldn't be surprising if the company made serious in-roads here in short order. But their brand is not well known from the consumer side, for example, the way Samsung/Panasonic/Sony and other Asian firms are, and I think the North American market will remain skeptical for some time until channels and relationships are well cemented.

I've got a request in for interview, so hopefully I'll have some more information soon on North American plans.