Shanghai Zhida Technology (HKG:2650) launched its initial public offering in Hong Kong, aiming to raise up to HK$500 million from the deal, according to a Tuesday Hong Kong bourse filing.

The electric-vehicle charging systems maker is offering nearly 5.98 million shares at an indicative price range of HK$66.92 to HK$83.63 each, with 597,900 shares allocated to the Hong Kong public offer and 5.38 million shares to international investors.

Shanghai Zhida expects proceeds to be used for overseas expansion, research and development, acquisitions, factory upgrades, and general corporate purposes.

Shenwan Hongyuan Capital (H.K.) was tapped as the sole sponsor. Shenwan Hongyuan Securities (H.K.) is acting as the sponsor-overall coordinator, overall coordinator, joint global coordinator, joint bookrunner, and joint lead manager.

BOCOM International Securities, China Industrial Securities International Capital, and First Shanghai Securities are also acting as overall coordinators and joint global coordinators.

Shenwan Hongyuan Securities (H.K.), BOCOM International Securities, China Industrial Securities International Capital, First Shanghai Securities, Livermore Holdings, Yellow River Securities, and SPDB International Capital are serving as joint bookrunners.