Seres Group (HKG:9927, SHA:601127) priced its initial public offering in Hong Kong at HK$131.50 per share, the offering's maximum offer price.

The new energy vehicle maker partially exercised the offer size adjustment option, under which it will issue 8,419,000 additional shares, representing about 8.40% of the shares initially available in the global offering, according to a Sunday Hong Kong bourse filing.

Seres will disclose the allocation results on Tuesday and will make its trading debut on the bourse a day after.

The company said in an earlier filing that it plans to use the proceeds to advance R&D in core technologies, powertrains, AI systems, and new model development. Funds will also go toward global marketing, overseas expansion, and the expansion of supercharging networks, with the balance reserved for working capital and general corporate use.