Gpixel Changchun Microelectronics (HKG:3277) said the overallotment option of its Hong Kong initial public offering was fully exercised on Friday, according to a same-day Hong Kong bourse filing.

The Chinese semiconductor company expects to raise about HK$379.8 million in additional net proceeds.

The exercise involved the issue of 9.8 million additional H-shares at HK$39.88 each, representing about 15% of the total offer shares available under the global offering.

Dealings in the over-allotment shares are expected to begin on May 13, the filing said.