Minieye Technology (HKG:2431) launched its initial public offering in Hong Kong Tuesday, seeking to raise as much as HK$791.6 million from the deal.
The Chinese intelligent driving and cabin solutions provider is offering 39,190,000 H Shares at HK$17.00 to HK$20.20 apiece, according to a Tuesday filing with the Hong Kong bourse.
Minieye Technology secured KCH International Investment and Horizon Together Holding as cornerstone investors, which committed to subscribe for HK$540.2 million worth of IPO shares.
The issuer expects to determine its offer price on Dec. 23 and disclose the allocations on Dec. 24. It will start trading on the Hong Kong bourse Dec. 27.
Proceeds from the deal will be used to enhance R&D facilities, improve production efficiency, reinforce sales and marketing capabilities, and for working capital and general corporate purposes.
CITIC Securities, CICC, SBI China Capital, SDICSI, and Longbridge, among several others, are the joint bookrunners of the IPO.
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