New IPO News | Electronic test and measurement instrument company Rigol Technologies has launched its initial public offering, targeting a listing on July 9, with a minimum subscription amount of HK$4,644.37 per lot

Futu News, June 30:$RIGOL (00537.HK)$The company announced that the IPO subscription period will run from June 30 to July 6. It plans to globally offer approximately 24.8022 million shares, with an expected listing date of July 9.

Company Overview

The company is a Chinese electronic test and measurement instrument provider with advanced technological capabilities and a substantial global footprint. According to Frost & Sullivan, it is China's largest supplier of electronic test and measurement instruments by revenue and ranked eighth globally in 2025. The company designs, develops, manufactures, and delivers a comprehensive range of electronic test and measurement instruments and solutions to support scientific discovery and industrial innovation.

Operating under the 'RIGOL' brand, the company serves over 100,000 end customers across more than 90 countries and regions, addressing complex testing challenges in sectors such as communications, new energy, semiconductors, and education and research. The company consistently emphasizes original technological innovation and independently develops core technologies. Through continuous breakthroughs in hardware, software, and algorithms, it has established a proprietary core technology platform and solidified its position as a competitive player in the electronic test and measurement industry.

Financial Summary

In 2023, 2024, and 2025, the company recorded sales revenues of RMB 670.5 million, RMB 775.8 million, and RMB 900.2 million, respectively. During the same periods, its gross profit margins were 53.4%, 54.9%, and 52.8%. Gross profit amounted to RMB 358.3 million, RMB 426.0 million, and RMB 475.7 million in 2023, 2024, and 2025, respectively, resulting in gross profit margins of 53.4%, 54.9%, and 52.8% for those years.

Use of Proceeds

Regarding the use of proceeds, Rigol Technologies expects the net proceeds from the global offering to amount to approximately HK$1.041 billion (calculated based on an issue price of HK$45.98 per share, assuming the over-allotment option is not exercised). According to the prospectus, Rigol Technologies intends to allocate the proceeds from the global offering as follows:

Approximately 30% of the net proceeds will be used over the next five years to enhance research and development capabilities, aiming to drive technological innovation and iteration; approximately 20% of the net proceeds will be allocated over the next five years to expand overall production capacity and increase automation across product lines; approximately 20% of the net proceeds will be dedicated over the next five years to strategic investments and acquisitions to achieve the company's long-term growth objectives; approximately 20% of the net proceeds will be invested over the next five years to strengthen the global sales, marketing, and service network; and approximately 10% of the net proceeds will be reserved for working capital and other general corporate purposes, providing the company with sufficient financial flexibility to meet ongoing operational needs and maintain stability in unforeseen circumstances.

Further reading:Rigol Technologies Prospectus

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Editor/Vincent

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