China Putian's "recombination for listing" (IPO) and Nokia
* China Putian Group's recombination for listing was postponed by Putian's foreign partners, such as Ericsson and Nokia. They have been busy adjusting their investment strategies and recombining the frameworks of their joint ventures.
* Nokia merged its four joint ventures (including China Beijing Capital Co., Ltd.) in China into one. Insiders think the move is quite helpful for Putian Group's recombination for listing. For Nokia holds partial stocks of China Beijing Capital Co., Ltd., and China Beijing Capital Co., Ltd. is also a major part of Putian's assets to be listed.
* Putian plans to divide its businesses into two segments for the listing: mobile telecommunication equipment and handsets. Putian will go public on both Hong Kong and US market in the fourth quarter this year. The IPO is expected to raise USD 500 to 600 million.
* To enforce the cooperation with Putian, the foreign partners [Nokia, Ericsson, Motorola, Lucent, siemens, etc.] will subscribe some of the shares when Putian launches IPO.
* Putian comes from China Posts and Telecommunications Industry Corp. (PTIC) It is affiliated with Ministry of Information Industry.
* Assets of Putian to be listed include six companies:
1.) China Beijing Capital Co., Ltd. (87.5% of its stocks belong to Putian)
2.) Eastern Communications Technology Development Co., Ltd. (51.59%)
3.) Ningbo Bird (33.75%)
4.) Nanjing Ericsson Panda Communications Company Ltd. (20%)
5.) Beijing Ericsson Mobile Communication Co. (27%)
6.) Beijing Putian Taili Technology Development Co.
>> PTIC to Raise USD 500 Million by IPO
ZDNet China
April 09, 2003
hoovnews.hoovers.com
Since last year, China Putian Group began to launch recombination for listing. But the recombination was postponed by Putian's foreign partners, such as Ericsson and Nokia. They have been busy adjusting their investment strategies and recombining the frameworks of their joint ventures. Last week, Nokia merged its four joint ventures (including China Beijing Capital Co., Ltd.) in China into one. Insiders think the move is quite helpful for Putian Group's recombination for listing. For Nokia holds partial stocks of China Beijing Capital Co., Ltd., and China Beijing Capital Co., Ltd. is also a major part of Putian's assets to be listed.
According to Oriental Daily, Putian plans to divide its businesses into two segments for the listing: mobile telecommunication equipment and handsets. Putian will go public on both Hong Kong and US market in the fourth quarter this year. The IPO is expected to raise USD 500 to 600 million.
Besides Nokia, Putian has cooperated with several other international telecommunication equipment traders, such as Ericsson and Motorola. To enforce the cooperation with Putian, the foreign partners will subscribe some of the shares when Putian launches IPO.
Oriental Daily learned that the assets of Putian to be listed include six companies. They are: China Beijing Capital Co., Ltd. (87.5% of its stocks belong to Putian), Eastern Communications Technology Development Co., Ltd. (51.59%), Ningbo Bird (33.75%), Nanjing Ericsson Panda Communications Company Ltd. (20%), Beijing Ericsson Mobile Communication Co. (27%) and Beijing Putian Taili Technology Development Co.
Putian comes from China Posts and Telecommunications Industry Corp. It is affiliated with Ministry of Information Industry. In August 1999, Putian transformed to a holding group with registered capital of RMB 3.09 billion. Putian is the top company in China in telecommunication technology equipment research, development, producing and marketing. <<
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>> PTIC Overview
ChinaNex
Last Update: 04/2003
chinanex.com
For nearly 20 years, PTIC was the telecom manufacturing arm under the then Ministry of Posts & Telecommunications (now MII), that's how it got its name: Posts & Telecommunications Industrial Corp. and the dominant position as a government protected virtual monopoly. Although the MPT no longer exists and nor is the company affiliated with the administration, its name has remained for business reasons (known only as PTIC).
PTIC was established in 1980. It became a state-own enterprise (SOE) in 1998, and has transformed to a holding group in 1999. Today PTIC consists of a general office in Beijing, seven wholly owned manufacturing facilities, 18 subsidiaries (most of them large telecom SOEs), 50 joint ventures and 40 alliances. PTIC's revenue in 2001 was 64.3 billion yuan ($7.7 billion), up 37% from 2000; profit 2.6 billion yuan ($318.5 million), up 23%, both the highest among Chinese telecom/electronic equipment manufacturers. It is one of the 50 largest telecom manufacturers in the world.
Although PTIC is owned by the government, it is allowed to operate somewhat independently with full import/export right, and has the authority to engage in international research and production. The company has worked with dozens of countries in areas from switches to telephone wires. For example, Shanghai Bell, one of the largest manufacturers in China, is a joint venture between PTIC and Alcatel until Alcatel gain majority control in May 2002. Other PTIC's partners include Motorola, Lucent Technologies, Ericsson, Nokia and Siemens.
PTIC's main products cover all major categories and over 1,000 varieties, including mobile communications systems (WLL, broadband); cellphone systems (base stations and handsets); central office; transmission (SDH, DWDM, fiber optic cable); multimedia platforms; access equipment; cable distribution systems; test instrument and postal equipment. In recent years, PTIC began to sell products in overseas markets, mainly telephone sets, power supply, digital switch and fiber optic cable.
According to the company, PTIC has a registered capital of 3.1 billion yuan ($372 million) and 36 billion yuan ($4.3 billion) in asset. The company employs 40,000 (total). In April 2003, PTIC announced a plan for IPO in Hong Kong and the US in the fourth quarter for a fund target of $600 million. The company will list some of its best assets for stock sale, including CapiTel, Eastcom and Bird, all major handset manufacturers in China, and joint ventures with Nokia and Ericsson.
PTIC
East Tower, Dacheng Plaza
28 West Xuanwu Street
Xuanwu, Beijing 100053
China
www.ptic.com.cn <<
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>> An Older China Putian Overview:
PTIC
CHINA PUTIAN has established long-term friendly and cooperative relations with many world-famous manufacturers of telecommunications equipment, and carried out wide-spread technological exchanges with them.
In 1982, CHINA PUTIAN introduced from ESSEX company of US the first production line of all plastic local telephone cables. Since then, CHINA PUTIAN has introduced from a dozen of countries more than 20 production lines of telex machines, PCM optical communications equipment digital microwave equipment, machines, high-frequency switching power supply system, pagers, mobile communications equipment,SDH optical communications equipment to implement technological transformation of its factories. In 1984, CHINA PUTIAN and Bell company of Belgium set up the first electronic SPC exchanges production line in China through joint funds, and established the first joint venture-Shanghai Bell Telephone Equipment Manufacturing Company Ltd.. Later, more than 60 joint ventures were set up with world-famous telecommunications companies such as Motorola, Nokia, Ericsson, Alcatel, Panasonic, Lucent, Corning, and etc. As a result, advanced technologies and management experience have been introduced from foreign countries, bringing about social and economic benefits.
Company type: Government-owned
Fiscal Year-End: December
President: Oyang Zhongmou <<
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