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Seer Intelligent Technology Launches HK$1 Billion Hong Kong IPO

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Shanghai Seer Intelligent Technology (HKG:6106) launched its Hong Kong initial public offering on Monday, seeking to raise as much as HK$1.07 billion.

The Chinese robotics company is offering 10.5 million H shares at an indicative price of HK$101.60 per share, according to a Hong Kong bourse filing.

The offering comprises 524,900 shares for Hong Kong investors and 9.97 million shares for international investors, subject to reallocation.

The IPO's allocation results are due June 23, ahead of the company's planned trading debut on June 24.

Net proceeds will be used primarily to advance the company's technology and infrastructure.

The company secured eight cornerstone investors, including the Hillhouse Group, that committed to subscribe to HK$462.2 million worth of IPO shares.

China International Capital Corp., CMB International Capital, Soochow Securities International, BOCI Asia, Futu Securities International, Tiger Brokers, Zheshang International Financial, and ABCI Securities were appointed as underwriters of the IPO.

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