Transsion Holdings, the parent company behind some of the biggest phone makers in Africa (TECNO, Infinix and itel) is reportedly set to go public, joining the likes of Huawei and Xiaomi.
According to Bloomberg, this is however through a backdoor process that will see the Chinese phone makers transfer a controlling stake to Shenzhen-listed Pump Industry Group Co. through and asset and share-swap deal.
Transsion Holdings has the biggest market in Africa by controlling up to 30% of smartphone sales. The company shipped more than 11 million smartphones to Africa last year, surpassing fellow big players like Samsung Electronics and Apple Inc. Its biggest presence is currently in Nigeria, Kenya and Senegal where the company has sold millions of dual-SIM phones.
Transsion Holdings already has a large presence in Africa, South Asia and its presence is also growing in the Middle East, the public listing deal is still in negotiation and it will make the company one of Asia’s biggest publicly traded phone manufacturers should it go through.