Rokae Robotics Seeks Up to HK$875 Million in Hong Kong IPO
Rokae (Shandong) Robotics Group (HKG:3752) launched its Hong Kong initial public offering on Tuesday, seeking to raise up to HK$875.2 million.The Chinese robotics company is offering 23 million H-shares at an indicative price of HK$38 per share, according to a Hong Kong bourse filing.The offering comprises 2.3 million shares for Hong Kong investors and 20.7 million shares for international investors, subject to reallocation and the overallotment option.The IPO's allocation results are due by July 8, ahead of the company's planned trading debut on July 9.Net proceeds will be used to enhance the company's research and development capabilities in robots and related solutions and expand the business.The company secured five cornerstone investors who committed to purchasing $35.1 million worth of IPO shares.China International Capital Corp., Guotai Junan Securities, Guosen Securities, Futu Securities International and Kingsway Financial Services Group are serving as the underwriters for the offering.
