Anker Innovations (HKG:0668, SHE:300866) launched its Hong Kong initial public offering on Tuesday, seeking to raise up to HK$4.63 billion.

The consumer electronics company is offering 46.6 million H-shares at a maximum price of HK$99.32 each, according to a Hong Kong bourse filing.

The offering comprises 4.7 million shares for Hong Kong investors and 42.0 million shares for international investors, subject to reallocation, the offer size adjustment option, and the over-allotment option.

The offer price is expected to be determined by June 29, with allocation results due by June 30, ahead of the company's planned trading debut on July 2.

Net proceeds will be used primarily to support product innovation and category expansion, research and development, talent acquisition, the company's direct-to-consumer global market strategy, and supply chain upgrades to support international growth.

The company also plans to use the funds to enhance brand awareness and consumer loyalty, as well as for working capital and general corporate purposes.

The offering has attracted 13 cornerstone investors, including Schroders, Aspex, PAMAL, Greenwoods, HACF, UBS Asset Management Singapore, Jane Street, Taikang Life, and Value Partners, which have agreed to subscribe for shares worth a total of $295 million.

China International Capital Corporation Hong Kong Securities, Goldman Sachs (Asia) and J.P. Morgan Securities (Asia Pacific) are serving as joint sponsors, overall coordinators, joint global coordinators, joint bookrunners and joint lead managers, according to the prospectus.