Quectel Wireless Solutions, a leading global supplier of Cellular and GNSS modules, is proud to announce that its stock has been newly listed in the FTSE China A 400 Index.
Inclusion in the index will allow international investors to gain easier access to the company’s A-shares on the Shanghai Stock Exchange (SSE). The change will take effect after the close of trading on March 20, 2020, with the Stock Exchange Daily Official List (SEDOL) code “BK6CY41”.
FTSE China indexes are widely regarded by both domestic and international investors as a leading measure of China’s equities market. Nearly 60% of Assets under Management (AuM) in globally issued China Exchange Traded Funds (ETFs) track an FTSE China index according to FTSE Russell, the world’s second-largest index company.
Since Quectel’s IPO on July 16, 2019, the module vendor has seen a threefold rise in market value. According to the FTSE China Index Series quarterly review results announced by FTSE Russell, Quectel currently ranks amongst the 600 largest A-share companies by full market capitalization, and for this reason was selected as a constituent of the FTSE China A 400 Index.
This move marks the second time that the module vendor was included in an index that facilitates foreign capital to trade its shares. Three months ago, the company was selected as a constituent of the SSE 380 Index, making it eligible for trading under the Shanghai-Hong Kong Stock Connect program.
An iconic name in the IoT module space, Quectel has continued to experience historic growth and business success over the years. This is largely attributable to its continuous innovations in cutting-edge technologies, such as 5G, artificial intelligence (AI), low-power wide-area (LPWA) and cellular vehicle-to-everything (C-V2X).
Patrick Qian, Chairman and CEO of Quectel, said:
“I am pleased that our stock will be accessible for more investors. It is a recognition of what we have been doing to build a smarter world through IoT technologies. We will continue to push innovation so that we can deliver superior products and services to our worldwide customers.”