Zhejiang Laifual Drive Launches HK$1.15 Billion Hong Kong IPO
Zhejiang Laifual Drive (HKG:3952) launched its Hong Kong initial public offering on Monday, seeking to raise up to HK$1.15 billion.The Chinese robotics company is offering 13.44 million H-shares at an indicative price range of HK$77 to HK$85.50 per share, according to a Hong Kong bourse filing.The offering comprises 672,100 shares for Hong Kong investors and 12.77 million shares for international investors, subject to reallocation and the overallotment option.The offer price is expected to be determined by June 26, with allocation results due by June 29, ahead of the company's planned trading debut on June 30.Net proceeds will be used to expand the company's production and research and development capabilities, as well as its overseas sales network.The company secured ten cornerstone investors who committed to purchasing $55 million worth of IPO shares.CMB International Capital is the sole sponsor and global coordinator for the offering.
