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.