BEIJING (dpa-AFX) - Lianhe Sowell International Group Ltd., a Chinese provider of machine vision products and solutions, on Thursday announced the pricing of its initial public offering, or IPO, of 2 million shares at $4 per share for gross proceeds of $8 million. The offering is expected to be closed on April 4.
In addition, Lianhe has granted the underwriter an option to purchase up to an additional 300,000 shares at $4 per share.
The net proceeds from the offering will be used to invest in the machine vision business, research and development, expand the spray painting robot business, and many others.
Lianhe's shares have been approved for listing on the Nasdaq and are expected to commence trading on April 3, under the ticker symbol 'LHSW'.
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