Fortior Technology (SHA:688279) plans to raise HK$1.96 billion from its offering on the Hong Kong Stock Exchange, according to a Shanghai bourse disclosure on Monday.

The integrated circuit design company will offer 16,299,500 shares for a maximum of HK$120.50 each.

The Hong Kong offering started on Monday, June 30, and will close on July 4. The final offering price is expected to be announced on July 7, the disclosure said.

The company's shares closed over 6% lower.