Two Chinese firms including Manycore Tech kicks off Hong Kong IPOs to raise up to $3.8b

Two Chinese companies, including Manycore Tech, one of the Six Little Dragons of Hangzhou, have kicked off their Hong Kong initial public offerings on Thursday, aiming to raise up to over HK$3.8 billion combined.

Manycore, a spatial design software maker, plans to issue 160.6 million shares with an indicative price of between HK$6.72 and HK$7.62 apiece. The minimum investment amount is around HK$3,848 per board lot of 500 shares. 

It could raise up to HK$1.2 billion from the share sale. The retail tranche was 36.5 times oversubscribed with nearly HK$4.5 billion in margin loans.

CMOS image sensor provider Gpixel Changchun Microelectronics plans to issue 65.3 million shares at HK$39.88 per share, for a total of over HK$2.6 billion. It asks for a minimum of HK$4,028 per board lot of 100 shares.

It designs and sells image sensors used in fields such as industrial imaging, scientific imaging, professional photography and video, and medical imaging, according to the prospectus.