Reuters 23 May 2013
GDC Technology Ltd, a Chinese digital cinema equipment maker backed by private equity firm Carlyle Group, has applied for a listing on U.S. stock exchange Nasdaq of up to $75 million.
GDC is the second Chinese company to seek a U.S. initial public offering this year, after online retailer LightInTheBox filed for an IPO of $86.3 million on the New York Stock Exchange in April.
Their plans follow a two-year listings lull following a series of highly publicised accounting scandals and fraud allegations. Only 17 Chinese companies joined stock markets in the United States in that time compared with 41 in 2010 alone.
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China’s GDC Technology plans $75 mln U.S. market debut
