Mininglamp Technology (HKG:2718) launched its initial public offering in Hong Kong, aiming to raise about HK$1.02 billion from the deal.

The China-based data intelligence software firm is offering 7.22 million Class A shares at an offer price of HK$141.00 each, according to a Thursday Hong Kong bourse filing.

The offering comprises 721,920 shares for Hong Kong investors and 6.50 million shares for international buyers, subject to reallocation and the overallotment option.

Allocation results are set to be announced on Oct. 31, ahead of Mininglamp's trading debut on the Hong Kong Stock Exchange on Nov. 3.

Net proceeds will be used primarily to enhance research and development capabilities, fund product development and upgrades, expand marketing and sales operations, and support working capital and general corporate purposes.

Huang River Investment, which is wholly owned by Tencent (HKG:0700), Minfang Guo, Hundreds Capital, Lina Bao, Treasure-stone Investment Group, and GFH Financial Group, as well as QuantumPharm, a wholly owned subsidiary of XtalPi (HKG:2228), will participate as cornerstone investors.

China International Capital Corporation Hong Kong Securities is acting as the sole sponsor and sole sponsor-overall coordinator for the offering.

CICC and CLSA serve as overall coordinators and joint global coordinators, joined by China Renaissance Securities (Hong Kong), Futu Securities International (Hong Kong), Tiger Brokers (HK) Global, Fuze Securities (International), Livermore Holdings, Mulana Investment Management, and Citrus Securities as joint bookrunners, joint lead managers, and capital market intermediaries.