Zhejiang Galaxis Technology (HKG:2729) launched its Hong Kong initial public offering on Monday, seeking to raise up to HK$750.7 million from the deal.

The China-based intelligent intralogistics robotics provider is offering 36.8 million H-shares at an indicative price range of HK$16.40 to HK$20.40 per share, according to a Hong Kong bourse filing.

The offering comprises 3.7 million shares for Hong Kong investors and 33.1 million shares for international investors, subject to reallocation and the overallotment option.

The offer price is expected to be determined by March 20, with allocation results due March 23, ahead of the company's planned trading debut on the Hong Kong Stock Exchange on March 24.

Net proceeds will be used mainly to advance robotics product development, strengthen core technologies, and expand manufacturing capacity, according to the filing.

Funds will also support overseas market expansion, research into AI-enabled robotics technologies and software systems, as well as working capital and general corporate purposes.

Guotai Junan Securities (Hong Kong) and CLSA are serving as sponsor-overall coordinators, joint global coordinators, joint bookrunners, and joint lead managers.

CMB International Capital and Yellow River Securities are also acting as overall coordinators, joint global coordinators, joint bookrunners, and joint lead managers.

ICBC International Securities and ABCI Capital are also serving as joint global coordinators, joint bookrunners, and joint lead managers.

CCB International Capital, Yunfeng Securities, Livermore Holdings, SPDB International Capital, Shenwan Hongyuan Securities (H.K.), Yuen Meta (International) Securities, and Harmonia Capital are serving as joint bookrunners and joint lead managers.