Seven IPOs seek nearly HK$17 bln in Hong Kong

Seven companies opened their retail books for their initial public offerings in Hong Kong on Wednesday, aiming to raise nearly HK$17 billion in total, in a fresh test of investor appetite led by Chinese mainland semiconductor firms.

OmniVision Integrated Circuits, a Shanghai-listed chipmaker, is seeking to raise up to HK$4.8 billion, the largest among the group, through the global offering of 45.8 million shares. GigaDevice Semiconductor plans to raise as much as HK$4.68 billion from the sale of about 28.9 million H-shares.

Mainland artificial intelligence startup MiniMax is targeting up to HK$4.19 billion, supported by cornerstone investors including Alibaba Group and Abu Dhabi Investment Authority, according to deal terms.

Other offerings include Suzhou Ribo Life Science, which is seeking up to HK$1.59 billion, copper cathode producer Yunnan Jinxun Resources with a target of up to HK$1.1 billion backed by Glencore as a cornerstone investor, and cold-chain logistics operator Hongxing Coldchain (Hunan), which aims to raise up to HK$285 million. Malaysian civil engineering contractor BBSB International is also seeking about HK$87.5 million in a planned GEM board listing.