Metis TechBio (HKG:7666) launched its Hong Kong initial public offering on Tuesday, seeking to raise about HK$2.11 billion from the deal.
The China-based AI-driven nanotechnology company is offering 201.2 million shares at HK$10.50 per share, according to a Hong Kong bourse filing.
The offering comprises 10.1 million shares for Hong Kong investors and 191.2 million shares for international investors, subject to reallocation and the overallotment option.
Allocation results are due by May 12, ahead of the company's planned trading debut on May 13.
Net proceeds will be used mainly to fund research and development of AI infrastructure and nanomaterial platforms, as well as support clinical trials of pipeline products.
The funds will also be used to expand into animal health and longevity solutions, build global operations, and for working capital and general corporate purposes.
Jefferies Hong Kong, Deutsche Securities Asia, and CITIC Securities (Hong Kong) are acting as joint sponsors.
Jefferies Hong Kong, Deutsche Bank AG (Hong Kong Branch), and CLSA are serving as overall coordinators and are also acting as joint bookrunners and joint lead managers, alongside CMB International Capital.
Futu Securities International (Hong Kong) is acting as a joint bookrunner and joint lead manager.