Gpixel Changchun Microelectronics (HKG:3277) launched its Hong Kong initial public offering on Thursday, seeking to raise about HK$2.60 billion from the deal.

The China-based CMOS image sensor provider is offering 65.3 million H-shares at an indicative price of HK$39.88 per share, according to a Hong Kong bourse filing.

The offering comprises 6.5 million shares for Hong Kong investors and 58.8 million shares for international investors, subject to reallocation and the overallotment option.

The Hong Kong public offering closes on April 14, with allocation results due by April 16, ahead of the company's planned trading debut on April 17.

Net proceeds will be used primarily to fund research and development, including investments in next-generation CMOS image sensor technologies across industrial, scientific, professional imaging, and medical applications.

The funds will also support the establishment of a new R&D center in Hangzhou, the expansion of packaging and testing capacity, the enhancement of overseas operations, and working capital and general corporate purposes.

CITIC Securities (Hong Kong) and Guotai Junan Capital are acting as joint sponsors.

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