-- Robotphoenix Intelligent Technology (HKG:6871) launched its Hong Kong initial public offering on Friday, seeking to raise up ro HK$750.3. million from the deal.
The China-based industrial robotics maker is offering 24.6 million H-shares at HK$30.50 per share, according to a Hong Kong bourse filing.
The offering comprises 1.23 million shares for Hong Kong investors and 23.37 million shares for international investors, subject to reallocation.
The IPO's allocation results are due May 15, ahead of the company's planned trading debut on May 18.
Net proceeds will be used to fund the development of the company's robotics technology, supply chain, production capabilities, as well as business expansion.
ABCI Securities, CLSA, Ping An Securities (Hong Kong), China Industrial Securities International Capital, CMBC Securities, Emperor Securities, Huafu International Securities, Shenwan Hongyuan Securities (H.K.), SPDB International Capital, Futu Securities International (Hong Kong), Livermore Holdings, and Tiger Brokers (HK) Global are the joint bookrunners of the IPO.