Shanghai FourSemi Semiconductor (HKG:3625) launched its Hong Kong initial public offering on Monday, seeking to raise up to HK$600 million from the deal.

The China-based semiconductor company is offering 12 million H-shares at an indicative price range of HK$40 to HK$50 per share, according to a Hong Kong bourse filing.

The offering comprises 600,000 shares for Hong Kong investors and 11.4 million shares for international investors, subject to reallocation and the overallotment option.

The offer price is expected to be determined by March 27, with allocation results due by March 30, ahead of the company's planned trading debut on March 31.

Net proceeds will be used mainly to build a new R&D center and enhance chip development capabilities, according to the filing.

Funds will also support testing infrastructure, strategic acquisitions, and sales expansion, as well as working capital.

Guotai Junan Capital and Orient Capital (Hong Kong) are the joint sponsors.

Guotai Junan Securities (Hong Kong) and Orient Securities (Hong Kong) are serving as overall coordinators, joint sponsor-overall coordinators, and joint global coordinators.

They are also acting as joint bookrunners and joint lead managers, alongside CCB International Capital, ABCI Capital, Futu Securities International (Hong Kong), Yellow River Securities, Shenwan Hongyuan Securities (H.K.), Livermore, and Huafu International Securities.

Yuen Meta (International) Securities and Zheshang International Financial are also joint bookrunners.