Shenzhen SDMC Technology (HKG:0901) launched its Hong Kong initial public offering on Monday, seeking to raise about HK$630 million from the deal.

The Chinese smart home products provider is offering 19.2 million shares at HK$32.80 apiece, according to a Hong Kong bourse filing.

The offering comprises 1.9 million shares for Hong Kong investors and 17.3 million shares for international investors, subject to reallocation and the offer size adjustment option.

The Hong Kong public offering closes on May 21, with allocation results due by May 26, ahead of the company's planned trading debut on May 27.

Net proceeds will be used mainly to invest in AI home-related technologies, enhance the company's market position, and develop new products.

The funds will also be used for global expansion, investments in upstream and downstream market players, and for working capital and general corporate purposes.

China Securities (International) Corporate Finance is acting as sole sponsor, sole sponsor-overall coordinator, sole overall coordinator, and sole global coordinator.

China Securities (International) Corporate Finance, CMB International Capital, CCB International Capital, ABCI Capital, CNCB (Hong Kong) Capital, Get Nice Securities, Forthright Securities, and Roofer Securities are acting as joint bookrunners and joint lead managers.