Four Chinese companies plan to raise up to $1.83bn in Hong Kong — Channel NewsAsia
Four Chinese companies plan to raise a combined total of up to HK$14.35 billion, or $1.83 billion, through separate share offerings on the Hong Kong stock exchange. The largest portion of this amount is sought by automated equipment manufacturer RoboTechnik Intelligent Technology, Channel NewsAsia reports, citing exchange filings.
RoboTechnik's largest offering
RoboTechnik Intelligent Technology is offering 11.9 million H shares at up to HK$436 per share. The company expects to raise approximately HK$5.18 billion. With the full exercise of a 15% offer size increase option and an over-allotment option, the deal could reach HK$6.85 billion at the maximum price.
The company, whose shares are already traded in Shenzhen, manufactures equipment for producing photovoltaic cells, as well as systems for assembling and testing silicon photonics devices. Such systems are used in optical interconnects for data centres and artificial intelligence infrastructure.
More current news is available on the UA.News Telegram channel Telegram.
Other share offerings
Printed circuit board manufacturer Shenzhen Kinwong Electronic intends to raise up to HK$5.10 billion through a secondary share offering. Materials manufacturer Red Avenue New Materials plans to raise up to HK$3 billion, also through a secondary share sale.
Precision electric motor solutions supplier Direct Drive Tech expects to raise HK$1.08 billion through an initial public offering. Shares of all four companies are expected to begin trading on the exchange on September 29.
According to LSEG, initial and secondary listing deals in Hong Kong have raised about $45.8 billion since the start of the year, compared with $24 billion in the same period last year.
