MONMOUTH JUNCTION, N.J. — Video surveillance systems provider Infinova has announced that the company has been taken public and is now listed on the Shenzhen stock exchange in China.
The company says an initial public offering (IPO) raised $300 million, which it will use to grow both organically and through acquisitions, as well as enhance its R&D efforts. Infinova estimates its market value to be $1.2 billion.
Infinova elected to list itself on the Shenzhen stock exchange because it is one of the top IPO markets globally that will allow the company to attract more investment funds, according Infinova CEO Dr. Jeffrey Liu.
“We look forward to strengthening our global position as the integrator’s manufacturer,” says Liu. “As a result of this IPO, Infinova can even better support our integrators and partners by delivering video systems that meet their customers’ business needs.”
Infinova provides core equipment for video control rooms, megapixel, IP and analog surveillance cameras, fiber optic communications products and customized systems. Among its larger clients, the Port of Miami, the Panama Canal, Romania’s Petromidia refinery and the Bangalore (India) toll surveillance system.