Forest Lighting Parent Company, MLS, Announces IPO in China
(firmenpresse) - ATLANTA, GA -- (Marketwired) -- 03/12/15 -- , the USA subsidiary of Zhongshan, China-based MLS Co. Ltd., has announced that MLS recently completed its Initial Public Offering on the Shenzhen stock exchange in China. At the close of the first day of trading on February 16, MLS stock closed at $30.95, up 44% from the opening price of $21.50. The market value of the company is approximately $2 billion. About 44 million shares were issued, raising $154 million (RMB 960 million).
MLS now ranks among the top ten manufacturers of Light Emitting Diodes (LEDs) in the world; 2014 revenue exceeded $700 million, and the company expects 30% growth in 2015. It produces over 16 billion LEDs annually, and has 12,000 employees.
"The IPO will allow increased investment in our production capacity, and we will be able to diversify our product lines even further. Our goal is to double our lighting business revenue in China," said Lawrence Lin, MLS general manager. "As we grow, our intention is to improve profitability as well."
The Atlanta-based Forest Lighting business in the US is also growing. "The US market is important to MLS, and over the last year we have positioned our US lighting inventory and are fast-tracking sales and marketing activities," said Jian Ni, chief operating officer of Forest Lighting. "The IPO will allow us to commit to the US market with increased inventory investment. Our carry all the required certifications and technical specifications necessary to compete in the US market, and customers are responding to our value proposition of ''affordable performance.''"
:
Forest Lighting USA Public Relations
Doug Baillie
Baillie Communications, Alpharetta GA
770-309-7124
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Datum: 12.03.2015 - 09:00 Uhr
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News-ID 1343766
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