| HONG KONG
HONG KONG May 23 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
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.
According to its filing, GDC has the largest installed base
of digital cinema servers in the Asia Pacific region and had the
second-largest globally at March. 31.
The firm posted a 2012 profit of $27.7 million, up 22
percent year on year.
Carlyle owns a majority of the shares in CAG Digital
Investment Holdings, which holds 48.8 percent of GDC Technology.
Banks Barclays, Jefferies and Piper Jaffray are leading the