CIG Shanghai (HKG:6166) launched its initial public offering in Hong Kong, aiming to raise up to HK$4.62 billion from the deal.

The data transmission device maker is offering as many as 67.01 million H-shares at a maximum price of HK$68.88 each, according to a Monday Hong Kong bourse filing.

The offering comprises 6.70 million shares for Hong Kong investors and 60.31 million shares for international buyers, subject to reallocation and the overallotment option.

Pricing is expected to be set on or before Oct. 24, with allocation results to be announced on Oct. 27, ahead of CIG Shanghai's trading debut on the Hong Kong Stock Exchange on Oct. 28.

Net proceeds will be used primarily to expand production capacity for photonics, broadband, and wireless products, enhance R&D talent and technology, fund strategic investments in optical and semiconductor-related businesses, strengthen marketing and global brand efforts, and support working capital and general corporate purposes.

Barings, Morgan Stanley Investment Partners (MSIP), HCEP Master Fund and HCEP Long Only Master Fund, Arc Avenue, CloudAlpha Capital, funds managed by Weiss Asset Management LP, Cithara Fund, 3W Fund, GMF and IRMF, Infini, Alpine, DAMSIMF, Aqua Ocean, Martis Fund, Taikang Life, and ICBC Wealth Management will participate as cornerstone investors.

Guotai Junan Capital is acting as the sole sponsor for the offering. At the same time, Guotai Junan Securities (Hong Kong) serves as the sole sponsor-overall coordinator and joint overall coordinator alongside CLSA.

DBS Asia Capital joins them as joint global coordinators, joint bookrunners, and joint lead managers.