Knowledge Atlas Technology Joint Stock Company (HKG:2513) launched its Hong Kong initial public offering on Tuesday, aiming to raise about HK$4.34 billion.

The artificial intelligence company is offering 37,419,500 H-shares at an offer price of HK$116.20 per share, according to a Hong Kong bourse filing.

The offering comprises 1.9 million shares for Hong Kong investors and 35.5 million shares for international investors, subject to reallocation and the overallotment option.

The company secured 11 cornerstone investors, which committed to subscribing to HK$3 billion worth of IPO shares.

The allocation results are expected to be announced on Jan. 7, ahead of the company's trading debut on Jan. 8.

Net proceeds will be used primarily for research and development in the company's general-purpose large AI models, as well as to optimize its platforms.

China International Capital Corporation Hong Kong, Huatai Financial Holdings (Hong Kong), BOCOM International Securities, Guotai Junan Securities (Hong Kong), China Merchants Securities (HK), Futu Securities International (Hong Kong), Tiger Brokers (HK), SPDB International Capital, CMB International Capital, Zheshang International Financial, Riche Bright Securities, UOB Kay Hian (Hong Kong) are the joint bookrunners of the IPO.