Chinese CNC tools manufacturer, autonomous driving provider kick off $2.6b Hong Kong IPO

Chinese computerised numerical control machine tools manufacturer and autonomous driving solutions provider kicked off book buildings for their Hong Kong initial public offerings on Tuesday for a total of up to HK$2.6 billion combined.

Shanghai Top Numerical Control Technology, which develops five-axis CNC tools for advanced manufacturing in China’s aviation and aerospace sector, plans to sell 65.3 million shares for HK$26.39 apiece. It asks for a minimum investment of HK$2,665.61 per board lot of 100 shares, with gross proceeds of HK$1.72 billion for the share sale.

Uisee Technologies (Beijing), specializing in driverless L4 technology, targets proceeds of HK$872 million from selling 14.5 million shares. Investors are required to pay HK$3,045 for a minimum of 50 shares for the sale.

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