Air conditioner provider AUX ELECTRIC fell 2% in HK IPO grey market trading.

Best known for its consumer electronics, AUX Electric is making waves by offering over 207 million shares at HK$16.00 to HK$17.42 each.

Backing from heavyweights like China Post Life Insurance and PSBC Wealth Management—who’ve committed $124.3 million—shows solid institutional confidence.

The expected HK$3.29 billion in proceeds will be channeled into research, next-gen manufacturing, and strengthening the supply chain, plus shoring up sales and working capital.

With China International Capital Corporation and Orient Securities leading the offering, the focus is clear: innovation, operational efficiency, and expansion.