Dealings in TeleEye Holdings Ltd, of which City University of Hong Kong is a founding shareholder, commenced on 8 May on the Growth Enterprise Market (GEM) of the Stock Exchange of Hong Kong.
The trading of TeleEye shares represents a significant milestone in the development of CityU, the first institution of higher education in Hong Kong to successfully nurture a technology company from start-up to public listing.
TeleEye is a closed circuit TV system that is transmitted from remote locations via telephone lines. The latest model, TeleEye Pro, is the world's fastest phone-line remote video monitoring system.
The company's products have been sold to more than 500 customers in 30 different countries. Major existing customers include Motorola Semiconductors
, Toshiba Electronics
, and China Light and Power
The listing ceremony, at the Stock Exchange of Hong Kong's viewing gallery, was attended by TeleEye Chief Executive Officer Dr Chan Chok-ki, CityU President, Professor H K Chang, and Chairman of the Council of CityU, Mr Norman Leung Nai-Pang.