Beijing DeepZero Technology (HKG:2723) launched its Hong Kong initial public offering on Monday, seeking to raise up to about HK$503.3 million from the deal.
The Chinese AI-driven marketing technology company is offering 9.1 million shares at an indicative maximum price of HK$55.50 per share, according to a Hong Kong bourse filing.
The offering comprises 906,800 shares for Hong Kong investors and 8.2 million shares for international investors, subject to reallocation.
The offer price is expected to be determined by May 22, with allocation results due by May 26, ahead of the company's planned trading debut on May 27.
Net proceeds will be used mainly for research and development of the company's AI-powered marketing and sales application products, including upgrades to AI computing infrastructure and expansion of its research team.
The funds will also be used to expand domestic and overseas sales networks, pursue strategic acquisitions, and for working capital and general corporate purposes.
ICBC International Capital is acting as the sole sponsor, while ICBC International Securities is serving as the sponsor-overall coordinator and overall coordinator.
ICBC International Securities, CCB International Capital, BOCOM International Securities, Victory Securities, and Guolian Securities International Capital are acting as joint global coordinators, joint bookrunners, and joint lead managers.
Zhongtai International Securities, Futu Securities International (Hong Kong), Tiger Brokers (HK) Global, Get Nice Securities, Yuen Meta (International) Securities, and South China Securities are also acting as joint bookrunners and joint lead managers.