Lingyi iTech Seeks Up to HK$8.2 Billion in Hong Kong IPO
Lingyi iTech (Guangdong) (SHE:002600, HKG:1688) launched its Hong Kong initial public offering on Wednesday, seeking to raise up to HK$8.26 billion.The Chinese robotics maker is offering 811.8 million H-shares at an indicative maximum price of HK$10.18 per share, according to a Hong Kong bourse filing.The offering comprises 81.18 million shares for Hong Kong investors and 730.6 million shares for international investors, subject to reallocation.The offer price is expected to be determined by June 24, with allocation results due by June 25, ahead of the company's planned trading debut on June 26.Net proceeds will be used to expand the company's production capacity and research and development capabilities. Proceeds will also be used for strategic investments and acquisitions to support the business.The company secured 21 cornerstone investors who committed to purchasing $406.9 million worth of IPO shares.Guotai Junan Securities, CLSA, J.P. Morgan Securities, Citigroup Global Markets Asia, Futu Securities International (Hong Kong), and Tiger Brokers (HK) Global are serving as the underwriters for the offering.