New stock news | Ketao Group's Hong Kong IPO and the "full circulation" of shares not listed domestically have been approved by the China Securities Regulatory Commission

On April 17, the International Cooperation Department of the China Securities Regulatory Commission issued the "Notice on the Record Filing of Overseas Issuance and Listing of Xiamen Kotur Communication Technology Co., Ltd. and the Full Circulation of Unlisted Shares in China". Kotur plans to issue no more than 11,629,100 overseas listed common shares and list on the Hong Kong Stock Exchange. Twenty shareholders of the company plan to convert a total of 88,153,289 unlisted shares in China into overseas listed shares and list them for circulation on the Hong Kong Stock Exchange. According to the prospectus, Kotur is a smart parking space operator, focusing on combining intelligent technology to connect the three elements of urban parking (people, cars, and places), deeply participating in promoting the digital transformation of urban parking. According to the Zhoushi Consulting report, based on the relevant revenue calculations for 2024, the company is ranked second in the smart parking space operation industry in China, with a market share of 3.3%. As of the six months ended June 30, 2022, 2023, 2024, and 2025, the company respectively served 17,596, 22,497, 26,616, 20,954, and 23,917 parking lots.