<article>China&#8217;s <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=SMIT+Holdings" target="_blank">SMIT Holdings</a>, security devices provider for pay TV broadcasting access and mobile point-of-sale (mPOS) payment system, is launching an IPO seeking to raise $37 million.</article>

China&#8217;s <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=SMIT+Holdings" target="_blank">SMIT Holdings</a>, security devices provider for pay TV broadcasting access and mobile point-of-sale (mPOS) payment system, is launching an IPO seeking to raise $37 million.
Founded in 2002, the Hong Kong-based company has offices in Shenzhen, China and Munich, Germany.
The company <a style="color: #000080;" href="http://www.hkexnews.hk/listedco/listconews/sehk/2016/0316/LTN20160316035.pdf" target="_blank">said in a filing</a> that it is offering 75 million shares in the price range of HK$3.10-$3.88 per share with a listing timeline on the Hong Kong Stock Exchange towards the end of March.
Existing shareholders in the company include Oak Investment Partners, with a 25.7 per cent stake, followed by GSR Ventures (20.9 per cent), Mayfield Fund and Walden International.
SMIT Holdings earned about $65 million in revenue last year, compared with $56 million the year before. However, net profit fell 39 per cent to $3.3 million.
Last year Hong Kong was the world&#8217;s top stock exchange for initial public offerings with 70 listings  by December, raising a cumulative $29.4 billion, according to data from Dealogic. The finance sector accounted for half of the deals by value.
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SMIT Holding&#8217;s conditional access module (CAM) products are used to access pay TV content. It is the largest player in the world by sales in that category, according to a report by <a style="color: #000080;" href="http://www.dealstreetasia.com/?s=Frost+%26+Sullivan" target="_blank">Frost &amp; Sullivan</a>. In the mPOS sector, it is the second-largest player in China.
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China's SMIT Holdings is hoping for a successful IPO, through which it's hoping to raise $37 billion. 

Hong Kong: SMIT Holdings taps market with $37m IPO plan

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Hong Kong: SMIT Holdings taps market with $37m IPO plan

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