Liuliumei (HKG:6658) launched its Hong Kong initial public offering on Friday, seeking to raise about HK$499.6 million.

The China-based fruit snack company, focused on plum-based products, is offering 11.5 million H shares at HK$43.58 apiece, according to a Hong Kong bourse filing.

The offering comprises 1.1 million shares for Hong Kong investors and 10.3 million shares for international investors, subject to reallocation and the over-allotment option.

The offer price is expected to be determined by June 12, with allocation results due the same day, ahead of the company's planned trading debut on June 15.

Net proceeds will mainly be used to expand production capacity, including new manufacturing, warehousing, and logistics facilities, as Liuliumei looks to meet growing demand for its plum-based products.

The company also plans to use the funds to strengthen brand marketing, expand its sales network and overseas presence, enhance R&D capabilities and product innovation, and for working capital and general corporate purposes.

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

CLSA and Guoyuan Securities Brokerage (Hong Kong) are serving as sponsor-overall coordinators and overall coordinators, while also acting as joint global coordinators, joint bookrunners, and joint lead managers.

Zhongtai International Securities, Soochow Securities International Brokerage, CEB International Capital, Huafu International Securities, and Orient Securities (Hong Kong) are acting as joint bookrunners and joint lead managers.