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SG Micro Seeks Up to HK$4.6 Billion in Hong Kong IPO

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SG Micro (SHE:300661, HKG:3661) launched its Hong Kong initial public offering on Wednesday, seeking to raise up to HK$4.60 billion.

The Chinese analog integrated circuit company is offering 54 million H-shares at an indicative maximum price of HK$85.20 per share, according to a Hong Kong bourse filing.

The offering comprises 5.4 million shares for Hong Kong investors and 48.6 million shares for international investors, subject to reallocation and the over-allotment option.

The offer price is expected to be determined by June 24, with allocation results due by June 25, ahead of the company's planned trading debut on June 26.

Net proceeds will be used primarily to enhance SG Micro's research and development capabilities and expand its product portfolio.

The company also plans to use the funds for strategic investments and acquisitions, expanding its overseas sales network in Europe and Asia, and for working capital and general corporate purposes.

China International Capital Corporation Hong Kong Securities and Huatai Financial (Hong Kong) are acting as joint sponsors, sponsor-overall coordinators, overall coordinators, joint global coordinators, joint bookrunners and joint lead managers.

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