Hangzhou Tongshifu Cultural and Creative (HKG:0664) launched its Hong Kong initial public offering on Monday, seeking to raise up to HK$503.7 million from the deal.

The copper-based cultural and creative product developer is offering 7.4 million H-shares at an indicative price range of HK$60.00 to HK$68.00 per share, according to a Hong Kong bourse filing.

The offering comprises 740,700 shares for Hong Kong investors and 6.7 million shares for international investors, subject to reallocation and the overallotment option.

The offer price is expected to be determined by March 27, with allocation results due by March 30, ahead of the company's planned trading debut on March 31.

Net proceeds will be used mainly to enhance product development and design, including building an R&D center and expanding the product portfolio.

The funds will also support capacity expansion, strengthen sales and marketing channels, upgrade digital infrastructure, and provide for working capital and general corporate purposes.

CMB International Capital is acting as sole sponsor, sponsor-overall coordinator, overall coordinator, joint global coordinator, joint bookrunner, and joint lead manager.

CLSA is also serving as an overall coordinator, joint global coordinator, joint bookrunner, and joint lead manager.

ABCI Capital and China Everbright Securities (HK) are acting as joint bookrunners and joint lead managers.

Livermore, Futu Securities International (Hong Kong), and Patrons Securities are serving as joint lead managers.