Risecomm Group Holdings Ltd. (“Risecomm Group”, 1679.HK) was successfully listed on the Main Board of HKEX on June 9, 2017. The issuance is priced at HK$ 1.00/share, and has received subscription of 284,475,000 shares, 14.22 times available shares in Hong Kong. Net proceeds raised globally is HK$ 154 million. Share price rises by 106% on its debut.

Risecomm Group is a fabless technology company focuses on the design, development and sale of system-grade IC, module, equipment and solutions of power-line communication(PLC) technologies. PLC technology is a communication technology using low-voltage power-line to transmit data, which has already become the mainstream technology for Auto Meter Reading. It’s also widely adopted in remote-control and smart energy management for monitoring, such as street lamp control, building energy management and photovoltaic energy management. Risecomm Group is the third largest PLC chip supplier in China, and its market share in 2016 is 11.2%. Revenue in 2013, 2014, 2015 and the first six months of 2016 is respectively 148 million yuan, 232 million yuan, 341 million yuan and 166 million yuan, and the gross margin is respectively 31.7%, 49.4%, 51.6% and 52.0%.

Jingtian & Gongcheng is the PRC legal counsel of the sponsor, and is fully involved in the listing of Risecomm Group.