MetaLight (HKG:2605) launched its initial public offering in Hong Kong on Monday, aiming to raise HK$242 million from the deal, according to a Hong Kong bourse filing.
The company, which operates a mobile app that utilizes big data analytics to deliver accurate bus arrival information, is offering 24,856,000 shares at HK$9.75 each.
Beijing-headquartered MetaLight expects to disclose the allocation results on June 9, with shares set to begin trading on June 10.
It plans to channel the IPO proceeds into scaling its proprietary AI infrastructure, including the development of time series data foundation models, upgrading its tech stack, and acquiring third-party AI solutions.
Funds will also support broader marketing efforts, team expansion, and general corporate use.
China International Capital Corporation, CMBC Securities, ABCI Capital, CCB International Capital, Patrons Securities, SBI China Capital, Fosun International Securities, BOCI Asia, Futu Securities, Tiger Brokers, Tiger Faith Securities, and Long Bridge HK are the joint bookrunners of the IPO.
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