HONG KONG: Shenzhen Transsion Holdings Co, a Chinese handset maker largely unknown outside of Africa, has priced its initial public offering at double the valuation of Apple Inc.
Transsion, whose mobile handsets outsell iPhone and Galaxy smartphones in Africa, is going public on Shanghai’s Nasdaq-style Star Board, setting its IPO at 35.15 yuan a share, implying a trailing earnings multiple of 42.8 times, according to a filing published on Wednesday.
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