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Africa’s top selling phones company Now Worth $4 Billion

Africa’s top selling phones company Now Worth $4 Billion. A low profile Chinese handset maker has taken over africa’s mobile market. Transsion a Chinese Smart phone maker Being Africa’s biggest top selling phones company is now worth $4 billion. Africa’s top selling phones company Now Worth $4 Billion. The mobile phone market in Africa, is dominated by Transsion products. Often referred to as top african phone manufacturers. That is, transsion africa. Mobile phones in africa statistics 2018 had their products (Tecno, Infinix) top of the chart. One can not imagine what has been the growth of cell phone usage over the past decade in africa. The statistics is definitely on a very high side. Often,Transsion phone price is seemingly affordable, hence a huge patronage from Africans.

Transsion products are the most sold phone 2018 till now.

Transsion, a Shenzhen based company is the owner of Itel, Infinix and Tecno brand of phone. The Tecno Brand, is said to have raised the company over $400 million IPO as reported on China’s hot new tech-focused stock market.

Reporting on a stock market filingWednesday that it sold 80 million shares for 35.15 yuan ($4.93) each, raising 2.81 billion yuan ($395 million).

The share sale pushes Transsion’s valuation to $3.95 billion. This establishes the company as one of the largest star attractions on the Star Market.
The company said that its shares would begin trading “as soon as possible.”

Despite the fact that the company is based in CHINA, it doesn’t do business there. But it controls a huge part of the smartphone market in Africa.Africa’s top selling phones company Now Worth $4 Billion

Its offering triggered a rush among investors. As a result, only one in 20 online bidders were allocated shares, while only three in 1,000 offline bidders were successful. Well, you can call this a hot cake again!

tecno-company-transsion
tecno-company-transsion

The IPO is on track to be the second largest for the Star Market

A board on the Shanghai stock exchange that launched in July and is viewed as part of China’s bid for tech superpower status. Africa’s top selling phones company Now Worth $4 Billion

The initiative was unveiled less than a year ago, by President Xi Jinping.
Beijing hopes Star will help China’s tech companies tap into vast wealth held by local investors, and entice global leaders such as Alibaba (BABA) and Tencent (TCEHY) to return from stock markets in New York and Hong Kong.
Investors have been enthusiastic about the stocks on the board, hoping to find the next tech giant at an early stage. Since the brand is most popular in Africa, its going all out for the continent.


China’s answer to the Nasdaq just had a crazy first day. Stocks gained 140%
China’s answer to the Nasdaq just had a crazy first day. Stocks gained 140%
So far 30 stocks have debuted on Star, many of them from the tech and manufacturing sectors. All the stocks have surged above their IPO prices, with an average gain of 160%. This was by Wednesday’s market close, according to Wind, a Chinese financial data provider.
The top performer is Anji Microelectronics Technology, a Chinese chipmaker based in Shanghai. The company’s stock has gone up fivefold from its offer price.

Finally,

China has encouraged its companies to become less dependent on foreign money and technology. A campaign that has intensified during the trade war with the United States and since the Trump administration blacklisted Huawei, a leading global smartphone maker and 5G network supplier.
Previous attempts by China to create a rival to Nasdaq in 2009 and 2013 failed because of a lack of quality listings and limited turnover in shares. Star may prove to be different. Africa’s top selling phones company Now Worth $4 Billion

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