ALSCO Pooling Service (HKG:2649) launched its Hong Kong initial public offering on Friday, aiming to raise up to HK$284.7 million.

The reusable package service provider is offering 20,336,000 H shares at an indicative price range of HK$11 to HK$14 per share, according to a Hong Kong bourse filing.

The offering comprises 2 million H shares for Hong Kong investors and 18.3 million H shares for international investors, subject to the reallocation and the overallotment option.

The issuer expects to determine its final offer price on or before March 5 and disclose the allocations on March 6. It will start trading on the Hong Kong bourse on March 9.

Net proceeds will primarily be used to enhance the company's digital systems and platforms and advancing its expansion strategy.

China Securities (International) Corporate Finance, DBS Asia Capital, China Sunrise Securities (International), ABCI Securities, CMB International Capital, Futu Securities International (Hong Kong), Livermore Holdings, SPDB International Capital, TFI Securities and Futures, and TradeGo Markets are the joint bookrunners of the IPO.