UISEE TECH (01511) has announced its initial public offering, with the subscription period running from May 12 to May 15, 2026. The company plans a global offering of 14.4612 million shares. The Hong Kong public offering portion will constitute 5% of the total, with the international offering making up the remaining 95%. The offer price is set at HK$60.30 per share, with a board lot size of 50 shares. The shares are expected to commence trading on the Stock Exchange on May 20, 2026.

The company is a Greater China-based autonomous driving solutions provider specializing in unmanned Level 4 technology. Its current focus is on commercial vehicles in closed environments, particularly at airports and industrial parks. The company's solutions are designed for universal application across various scenarios and have been deployed in both open and closed settings. These applications cover logistics, operations, and motor vehicles, encompassing autonomous driving levels from L2 to L4.

The company has entered into cornerstone investment agreements with several investors. These cornerstone investors are: (i) Xiongan Autonomous Driving Co., Ltd. ("Xiongan Autonomous Driving"); (ii) CYGG Holding Limited ("CYGG"); and (iii) Starwin International A LPF ("Starwin International"). Subject to certain conditions, these investors have agreed to subscribe for shares amounting to approximately HK$261 million based on the offer price, with the number of shares rounded down to the nearest full board lot of 50 shares. Based on the offer price of HK$60.30 per H-share, the cornerstone investors will subscribe for a total of 4.3322 million offer shares. This represents approximately 29.96% of the offer shares under the global offering (assuming the over-allotment option is not exercised) and approximately 26.05% (assuming the over-allotment option is fully exercised).

Assuming an offer price of HK$60.30 per share and after deducting underwriting commissions and estimated expenses related to the global offering (and assuming the over-allotment option is not exercised), the company estimates it will receive net proceeds of approximately HK$795 million from the global offering. In line with its strategic plan, the company intends to allocate the net proceeds over the next four years as follows: approximately 46.7% will be used to continuously enhance the company's research and development capabilities and solution offerings; approximately 33.5% will be allocated for business expansion both domestically and internationally, as well as to improve commercialization capabilities; approximately 9.8% is earmarked for strategic investments; and approximately 10.0% will be used for working capital and general corporate purposes.