Crealights Technology Seeks HK$1.5 Billion in Hong Kong Listing
Crealights Technology (HKG:1191) launched its Hong Kong initial public offering on Thursday, seeking to raise about HK$1.53 billion.The Beijing-based provider of optoelectronic interconnection products is offering 13.4 million H shares at HK$114.00 each, according to a Hong Kong bourse filing.The offering comprises 1.3 million shares for Hong Kong investors and 12.1 million shares for international investors, subject to reallocation and the over-allotment option.The company is expected to announce allocation results on June 26, ahead of its planned trading debut on June 29.Net proceeds will be used primarily to expand Crealights Technology's production capacity for optical transceivers and other optoelectronic interconnection products, and to enhance automation across its manufacturing lines.The company also plans to use the funds to support research and development of new products and technologies, business promotion and market expansion, as well as for working capital and general corporate purposes.The offering attracted six cornerstone investors, including JSC International Investment Fund, Winwin Technology, and Kingsoft Cloud Network, which committed a combined HK$763.4 million.The investors agreed to subscribe for 6.7 million shares, representing 49.9% of the offering, according to the prospectus.Huatai Financial Holdings (Hong Kong) is acting as sole sponsor, overall coordinator, sponsor-overall coordinator, global coordinator and bookrunner for the offering, according to the prospectus.
