Zhida Technology considers IPO in Hong Kong

Shanghai Zhida Technology Co., Ltd., a manufacturer of electric vehicle charging systems, is considering an initial public offering (IPO) in Hong Kong, which is expected to raise about HK$1 billion (US$128 million). It is reported that Zhida Technology is cooperating with Shenwan Hongyuan on the IPO and may submit a preliminary prospectus as early as this week and conduct an IPO as early as this year. Zhida Technology currently serves more than 1 million car owners and 70 car brands in China.