Shenzhen Creality 3D Technology (HKG:3388) launched its Hong Kong initial public offering on Wednesday, seeking to raise about HK$1.38 billion from the deal.
The China-based 3D printing products provider is offering 73.4 million shares at HK$18.80 per share, according to a Hong Kong bourse filing.
The offering comprises 7.3 million shares for Hong Kong investors and 66.1 million shares for international investors, subject to reallocation and the over-allotment option.
The Hong Kong public offering closes on May 26, with allocation results due by May 28, ahead of the company's planned trading debut on May 29.
Net proceeds will be used mainly for research and development to strengthen technology capabilities, as well as overseas user operations, including the development of Creality Cloud and Nexbie.
The funds will also be used for global brand promotion and sales channel expansion, strategic partnerships and acquisitions, and working capital and general corporate purposes.
China International Capital Corporation is acting as sole sponsor and the sponsor-overall coordinator.
China International Capital Corporation and Deutsche Bank are serving as overall coordinators and joint global coordinators.
China International Capital Corporation and AVICT Global Asset Management are acting as joint bookrunners and joint lead managers.
Deutsche Bank, AVICT Global Asset Management, ABCI Capital, BOCI Asia, CCB International Capital, SPDB International Capital, and Livermore are also acting as joint bookrunners.