In what appears to be an asset and share-swap deal, Transsion Holdings is expected to transfer a controlling stake to the Shimge Pump Industry Group Co. The end game is to gain Shimge’s stock listing on the SSE.
Transsion Holdings has come a long way since its humble beginnings in 2006 when it originally focused only on South-east Asia. Shortly after, it shifted its focus to Africa, a move that, in hindsight, paid off.
The company is said to control almost 40% of the mobile industry in Sub-Saharan Africa alone (30% of all of Africa) and has sold over 200 million dual-SIM phones globally.
Should the listing be successful, Transsion Holdings, like Xiaomi, could join the likes of Huawei and Lenovo to become one of the few publicly traded Chinese mobile device manufacturers.
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