Deepexi Technology (HKG:1384) raised HK$609.8 million in net proceeds from its initial public offering in Hong Kong.

The final offer price was set at HK$26.66 per share, according to an after-market filing with the Hong Kong Stock Exchange on Monday.

The large model AI application provider offered 26.6 million H-shares under the global offering.

The Hong Kong public offer was 7,569.83 times oversubscribed, triggering a claw-back and increasing the final allocation to 5.33 million shares, or 20% of the total offering, from an initial 1.33 million shares.

The international offering was 16.61 times subscribed, with the final allocation of 21.3 million shares, or 80% of the total offering, following reallocation.

Deepexi Technology is scheduled to debut on the Hong Kong bourse on Tuesday, Oct. 28.