A number of companies have raised money this year and this is one of the larger amounts we've seen:
August 4th 2011 - Shenzhen -- Invengo Information Technology (002161.SZ) announced that the company has raised 694.1 million Yuan (USD$108 million) through a private placement of 36.0387 million shares at 19.26 Yuan (USD $3.00) per share.
Invengo is a leading vendor of Radio Frequency Identification (RFID) products and solution in China. Invengo went public in August 2007 and is listed on Shenzhen Stock Exchange (SZSE), China. Invengo announced its second round fund-raising plan on November 2010.
Closing this transaction within a significantly short period of time, which Invengo believes is an indication of the investors' confidence in Invengo's business prospects, will constitute an important step in Invengo's ambition to consolidate its lead in Greater China and the global market.
All the proceeds raised will be invested in five projects. The investment capital required by the five projects is expected to hit 792 million Yuan (USD$123 million). The projects include the commercialization of Internet-Of-Things, RFID handhelds, a management system for RFID-based railway vehicle parts, research and development into an automated library system and tracking devices for trains.
About Invengo
Invengo is a public company valued at ~$1.3 billion, and employing over 600 people globally working on RFID. Invengo design and manufacturing Head Quarters is located in Shenzhen, China. Invengo's Western Markets division is based in the Washington DC area along with our Western USA office in Seattle WA. Invengo designs and manufactures a complete range of market leading UHF inlays, readers and complete RFID system solutions for multiple RFID applications such as apparel, logistics tracking, library, health care, manufacturing, temperature monitoring, pharmaceuticals, etc.
Heather Wang
CEO
America & Europe
Invengo Technology Corp
Phone: +1 703 793 0085
E-mail: heather.wang@invengo.com
Tim Newsom
Vice President Sales & Marketing
America & Europe
Invengo Technology Corp
Cell: +1 206 306 4956
E-mail: tim.newsom@invengo.com
Skype: RFIDTim
Twitter: RFIDChipper
www.invengo.com
