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China TransInfo Technology files for $50 million public offering

Oct 28, 2009 (Datamonitor Financial Deals Tracker via COMTEX) --

Company: China TransInfo Technology Corp (CTFO)

China TransInfo Technology Corp., provider of transportation information systems and solutions, has filed a shelf registration statement with the US Securities and Exchange Commission (SEC) to raise $50 million through a public offering of common stock, preferred stock, debt securities, warrants, or units. 

Deal Value (US$ Million) 50
Deal Type                IPO
Sub-Category             Secondary Offering
Deal Status              Announced: 2009-10-27

Deal Participants 

Target (Company) China TransInfo Technology Corp.

Deal Rationale

China TransInfo Technology will use the proceeds for general corporate purposes, which includes repayment of debt, and funding for the acquisitions, working capital, capital expenditures, and research and development. It may also use the remaining proceeds to invest in short-term marketable securities.

Copyright (C) 2009 Datamonitor Financial Deals Tracker. All rights reserved

News Provided by COMTEX

Company: China TransInfo Technology Corp (CTFO)


Related terms: china, corporate, debt, ipo, public offering, research and development, sec, securities, technology, transportation

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