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What Year Did Opp Open Their IPO?
OPPO, a leading Chinese smartphone manufacturer, opened its Initial Public Offering (IPO) on the Hong Kong Stock Exchange (HKEX) in 2021. This highly anticipated IPO marked a significant milestone in the company’s growth and expansion plans, allowing it to raise capital for future endeavors. Let’s delve into the details of this IPO and its implications for OPPO.
The IPO of OPPO, officially known as Guangdong OPPO Mobile Telecommunications Corp., Ltd., took place on March 18, 2021. The company offered 1.153 billion shares to the public at a price of HKD 16.80 per share. Through this IPO, OPPO aimed to raise funds of around HKD 19.28 billion (approximately USD 2.48 billion), making it one of the largest technology IPOs in recent years.
OPPO’s decision to go public came as no surprise to industry experts, considering the company’s rapid growth and its ambition to expand its market presence globally. The smartphone manufacturer has been a major player in the highly competitive Chinese smartphone market, consistently ranking among the top five smartphone vendors globally. By going public, OPPO aimed to secure additional capital to invest in research and development, marketing, and further international expansion.
The IPO received overwhelming response from investors, both institutional and retail, reflecting the confidence in OPPO’s potential for growth. The shares were heavily oversubscribed, indicating strong investor interest in the company’s future prospects. On the first day of trading, OPPO’s shares surged by more than 5%, highlighting the positive sentiment surrounding the IPO.
With the successful IPO, OPPO joined the league of other major Chinese technology companies that have gone public, such as Xiaomi and Huawei. This move not only solidified OPPO’s position in the smartphone industry but also showcased its determination to compete on a global scale.
FAQs:
1. What is an IPO?
An IPO (Initial Public Offering) refers to the process through which a private company offers its shares to the public for the first time, thereby becoming a publicly-traded company. It allows the company to raise capital by selling shares to investors.
2. Why did OPPO decide to go public?
OPPO’s decision to go public was driven by its desire to raise funds for future growth and expansion plans. It aimed to secure additional capital to invest in research and development, marketing, and further international expansion.
3. How much capital did OPPO raise through its IPO?
OPPO raised approximately HKD 19.28 billion (around USD 2.48 billion) through its IPO, offering 1.153 billion shares to the public at a price of HKD 16.80 per share.
4. When did OPPO’s IPO take place?
OPPO’s IPO took place on March 18, 2021, on the Hong Kong Stock Exchange (HKEX).
5. How did investors respond to OPPO’s IPO?
Investors responded positively to OPPO’s IPO, with the shares being heavily oversubscribed. On the first day of trading, OPPO’s shares surged by more than 5%, reflecting strong investor interest in the company’s future prospects.
In conclusion, OPPO opened its IPO on the Hong Kong Stock Exchange in 2021, marking a significant milestone in the company’s growth and expansion plans. The successful IPO allowed OPPO to raise substantial capital, enabling it to invest in research and development, marketing, and further international expansion. This move solidified OPPO’s position as a major player in the smartphone industry and showcased its determination to compete globally.
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