RFID Company Raises $108 Million - Invengo

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: This email address is being protected from spambots. You need JavaScript enabled to view it.

Tim Newsom

Vice President Sales & Marketing

America & Europe

Invengo Technology Corp

Cell: +1 206 306 4956

E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

Skype: RFIDTim

Twitter: RFIDChipper

www.invengo.com

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