Viewtrix Technology (HKG:3310) launched its Hong Kong initial public offering on Monday, seeking to raise about HK$1.10 billion from the deal.

The Chinese AMOLED display driver integrated circuit designer is offering 52.9 million shares at HK$20.81 apiece, according to a Hong Kong bourse filing.

The offering comprises 5.3 million shares for Hong Kong investors and 47.6 million shares for international investors, subject to reallocation and the overallotment option.

The Hong Kong public offering closes on May 21, with allocation results due by May 26, ahead of the company's planned trading debut on May 27.

Net proceeds will be used mainly to support the research and development and optimization of AMOLED TDDI chips, as well as Micro-OLED and Micro-LED display driver backplanes.

The funds will also be used for strategic investments or acquisitions, and for working capital and general corporate purposes.

China International Capital Corporation Hong Kong Securities, CLSA, and GF Securities (Hong Kong) Brokerage are acting as joint global coordinators, joint bookrunners, and joint lead managers.

AVICT Global Asset Management and Webull Securities are also acting as joint bookrunners and joint lead managers.