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ZKTeco looks to international business strength for a $238.4M IPO in China

ZKTeco looks to international business strength for a $238.4M IPO in China
 

Executives with biometrics and access control vendor ZKTeco have set their sights on a 1.61 billion-yuan (US$238.4 million) haul with its upcoming IPO.

The China-based company with subsidiaries in the United States, Europe, Africa and India has not specified how it will apply the proceeds.

ZKTeco provides security biometric scanners and software in addition to integrated access control systems, cameras and kiosks.

The global firm’s public debut, scheduled for August 8, will be on the ChiNext board, part of the Shenzhen Stock Exchange. It plans to charge 43.32 yuan each for online and offline transactions.

An IPO was teased by ZKTeco in late-2020, when it announced plans for two new factories in China and one in the U.S.

In July, ZKTeco launched its SLK20S, a high-performance, 16 mm-thick optical fingerprint reader module with a two-megapixel CMOS sensor capable of a resolution of 500dpi. The company claims the sensor works with “all finger types.”

Chinese investors have been bearish on SenseTime, the country’s most valuable AI and biometrics provider, since its $767 million Hong Kong IPO at the end of 2021, seemingly due to soft financial market conditions. ZKTeco’s business, however, is much more internationally diversified.

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