RoboTechnik Intelligent Technology (HKG:3757, SHE:300757) launched its Hong Kong initial public offering on Monday, seeking to raise up to HK$5.18 billion.
The China-based manufacturing equipment and systems provider is offering 11.9 million H shares at a maximum price of HK$436 each, according to a Hong Kong bourse filing.
The offering comprises 1.2 million shares for Hong Kong investors and 10.7 million shares for international investors, subject to reallocation, offer size adjustments, and over-allotment options.
The offer price is expected to be determined by Sept. 25, with allocation results due by Sept. 28, ahead of the company's planned trading debut on Sept. 29.
The IPO has 18 cornerstone investors, including Temasek, Sunpeak Asset, IvyRock, E Fund and Lai Pak Lam, which have committed to subscribe for a combined $232.4 million worth of shares.
Net proceeds will be used mainly to expand production capacity and improve delivery speed, enhance product and technology R&D and innovation, and fund strategic investments and acquisitions.
The company also plans to build a global sales and service network, with the remaining proceeds allocated to working capital and general corporate purposes.
Huatai Financial (Hong Kong), Citigroup Global Markets Asia and Orient Capital (Hong Kong) are acting as joint sponsors.
Huatai Financial (Hong Kong), Citigroup Global Markets Asia and Orient Securities (Hong Kong) are serving as sponsor-overall coordinators, overall coordinators and joint global coordinators.