Chinese intelligent manufacturing firm SK Automation raises $105m IPO

Source: Xi Wang/Unsplash

Shanghai SK Automation Technology, a Chinese developer of intelligent manufacturing equipment, has raised 733 million yuan ($105 million) in an initial public offering (IPO) on the country’s Nasdaq-style STAR Market on Tuesday.

SK Automation, whose initial price-to-earnings ratio (PE) stood at 47.74, offered 18.91 million shares at 38.77 yuan ($5.58) apiece.

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