The company, trading under the ticker symbol of NIO, announced the pricing of its IPO of 160,000,000 American depository shares (ADSs), at .26 per ADS for a total offering size of approximately billion, assuming the underwriters do not exercise their option to purchase additional ADSs.
The company, which used to produce bicycle parts for major domestic manufacturers, now supplies precision car parts.
The company plans to penetrate into other realms such as electronic appliances, smart retail and senior care, and is on course to unveil capabilities like facial recognition in the future.
The company's premium incomes from motor insurance and non-motor insurance have seen a year-on-year increase of 3.6 percent and 33.6 percent in the first half-year, reaching 122.43 billion and 82.61 billion yuan respectively, the company's report said.
The company, whose name "Okay" sounds like the Cantonese word for "home", was launched in 2011 in a bid to solve some of the problems in Hong Kong's large, but fragmented real-estate industry.
The company's supply of high-quality iron ore is consistent with the environmental policy of China and with environmental controls, said Jacques, adding he was "absolutely not concerned" about the company's ability to continue providing high-quality products to customers in China in a profitable way.
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The company said Koo's funeral would be held privately with family members. Visitors including Samsung Group heir Jay Y. Lee have paid their condolences at his altar.
The company said it hopes the move will considerably increase its supply chain capacity. It also demonstrates its corporate social responsibility commitments.
The company, which is building a social networking service where teenagers and twenty somethings earn points for sharing content or watching videos, landed a massive million venture capital round from venerable Silicon Valley firm Kleiner Perkins Caufield & Byers, former Microsoft CFO Greg Maffei, DAG Ventures and Live Nation. It also bought three companies in 2011, purchasing online video startup Vodpod,?social sharing service AddToAny and Twitter photo service Plixi.
The company said the joint venture is ideally positioned to compete with MediaTek Inc and Spreadtrum Communications Inc to supply chips to the lower end of the smartphone market and will not take sales or market share away from Qualcomm's existing high-end chip business.