Beijing Yunji Technology (HKG:2670) launched its initial public offering in Hong Kong on Wednesday, looking to raise as much as HK$659.6 million from the deal.

The hospitality robotic-based AI-empowered technology company is offering as many as 6,900,000 shares at an indicative price of HK$95.60 apiece, according to an early Wednesday morning filing with the Hong Kong bourse.

The allocation results are expected to be disclosed on Oct. 15, one day ahead of the company's listing debut on the Hong Kong Stock Exchange.

Net proceeds from the offering, estimated at HK$590.0 million, will be used to enhance the company's R&D capabilities, improve its commercialization capabilities, and for working capital and other general corporate purposes.

CITIC Securities (Hong Kong) and CCB International Capital are the joint sponsors, overall coordinators, joint global coordinators, joint bookrunners, and joint lead managers of the deal, while SDICS International Securities (Hong Kong) also act as overall coordinator, joint global coordinator, joint bookrunner and joint lead manager.

Meanwhile, China Harbour International Securities, Futu Securities International (Hong Kong), Fuze Securities (International), SPDB International Capital and Tiger Brokers (HK) Global are also joint bookrunners and joint lead managers.