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NASN Intelligent Tech Launches HK$644 Million Hong Kong IPO

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NASN Intelligent Tech (HKG:2261) launched its Hong Kong initial public offering on Thursday, seeking to raise up to HK$643.9 million.

The China-based intelligent driving motion control technology company is offering 57.6 million H shares at a maximum price of HK$11.18 each, according to a Hong Kong bourse filing.

The offering comprises 5.8 million shares for Hong Kong investors and 51.8 million shares for international investors, subject to reallocation and the over-allotment option.

The offer price is expected to be determined by Aug. 5, with allocation results due by Aug. 6, ahead of the company's planned trading debut on Aug. 7.

Net proceeds will be used primarily to strengthen the company's research and development capabilities, expand its product portfolio, and upgrade its production and manufacturing capacity.

The company also plans to use the funds to enhance its service capabilities and international brand recognition, as well as for working capital and general corporate purposes.

Haitong International Capital and BOCI Asia are serving as joint sponsors. Haitong International Securities, BOCI Asia and SDIC Securities (Hong Kong) are acting as overall coordinators and joint global coordinators.

Orient Securities (Hong Kong), TradeMaster Securities, SPDB International Capital, Futu Securities International (Hong Kong) and other firms are serving as joint bookrunners and joint lead managers, according to the prospectus.

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