MeiG Smart Technology (HKG:3268, SHE:002881) priced its Hong Kong initial public offering at HK$28.86 per share, according to a filing with the city's bourse Friday.

The wireless communication modules maker was originally offering as much as 35 million H shares in the IPO, but said it would sell an additional 5.25 million shares after the offer size adjustment option was exercised in full.

The issuer expects to disclose allocations on March 9 and begin trading on the Hong Kong bourse on March 10.

Net proceeds will primarily be used to pursue research and development initiatives, expand the company's sales network, and for possible acquisitions.