Vix JV Lists On The Hong Kong GEM Exchange
Beijing, China, June 26, 2012. China City Railway Transportation Technology (CCRTT), the JV that Vix formed with the Chinese government entity BII (Beijing Infrastructure Investments) and BETIT three years ago has listed on the Hong Kong stock exchange.
This IPO, which was the only successful IPO for the month of May in Hong Kong raised over HKD 200 million, which will now be used for further investments in product development and services.
CCRTT is the main supplier of Automated Fare Collection systems, operator of the Beijing Transit Clearing House and provider of a variety of technical products and services to the Beijing Government. Vix initially supplied the Transit Clearing House to Beijing prior to the Olympics and has since gone on to form the JV with the government to provide operations and support services.