Lianhe Sowell International Group, which provides machine vision products and solutions in China, announced terms for its IPO on Thursday.
The Shenzhen, China-based company plans to raise $9 million by offering 2 million shares at a price range of $4 to $5. At the midpoint of the proposed range, Lianhe Sowell International Group would command a market value of $234 million.
Lianhe Sowell provides machine vision products and solutions in China, inventing and integrating technologies and solutions that address critical manufacturing and distribution challenges. Based on nine foundational technologies, its solutions integrate physical products with software to capture and analyze visual information. The company's machine vision products fall into four categories, based on application setting: industrial machine vision, artificial intelligence (face recognition and AI behavior analysis), intelligent weak current (building intelligence and intelligent transportation), and electronic customs clearance.
Lianhe Sowell International Group was founded in 2007 and plans to list on the Nasdaq under the symbol LHSW. The Benchmark Company and R.F. Lafferty & Co. are the joint bookrunners on the deal.
