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ZDT Subsidiary Gains Chinese OK for IPO

Published: 27 August 2018
 by Mike Buetow

TAIPEI -- A Shenzhen-based subsidiary of Zhen Ding Technology has secured approval from China to launch an IPO on the Shenzhen Stock Exchange.

In a filing on the Taiwan Stock Exchange where ZDT is listed, ZDT said Avary Holding (Shenzhen) Co. (鵬鼎控股深圳) would be listed on the Shenzhen exchange at a to-be-determined date. ZDT did not state a share price in its filing.

Zhen Ding owns about 81% of Avary Holding, which makes flexible printed circuit boards in Huaian, Jiangsu Province and Qinhuangdao, Hebei Province.

ZDT was the world's largest PCB fabricator in 2017, according to the latest NTI-100. The company reported revenue of 23.92 billion yuan ($3.7 billion) and net income of 1.91 billion yuan. It is spinoff of Foxconn, which still owns about 38% of the PCB fabricator.

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