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UISEE Technologies Launches Up to HK$872 Million Hong Kong IPO

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UISEE Technologies (HKG:1511) launched its Hong Kong initial public offering on Tuesday, seeking to raise about HK$872 million from the deal.

The China-based autonomous driving company is offering 14.5 million shares at HK$60.30 each, according to a Hong Kong bourse filing.

The offering comprises 723,100 shares for Hong Kong investors and 13.7 million shares for international investors, subject to reallocation and the offer size adjustment option.

Allocation results are due by May 19, ahead of the company's planned trading debut on May 20.

Net proceeds will be used mainly to enhance research and development capabilities and strengthen solution offerings.

The funds will also be used for domestic and overseas business expansion, commercialization efforts, strategic investments, and working capital and general corporate purposes.

CITIC Securities (Hong Kong) is acting as the sole sponsor, while CLSA is serving as sponsor-overall coordinator.

CLSA, BOCOM International Securities, DBS Asia Capital, and China Galaxy International Securities (Hong Kong) are acting as overall coordinators, joint global coordinators, joint bookrunners, and joint lead managers, alongside Hong Tai Securities.

Futu Securities International (Hong Kong), CEB International Capital, uSmart Securities, CNCB (Hong Kong) Capital, Quam Securities, Lego Securities, Patrons Securities, and SBI China Capital Financial Services are acting as joint bookrunners and joint lead managers.

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