Shenzhen Camsense Technologies kicks off $682m HK IPO

Shenzhen Camsense Technologies kicked off bookbuilding of its initial public offering in Hong Kong on Tuesday, aiming to raise HK$682 million.

The robotic vacuum spatial sensing components supplier plans to sell 11.59 million H shares, with an offer price of HK$58.85.

Each borad lot contains 100 shares, requiring a minimum investment of HK$5,944.4.

It's expected to debut on September 30.

For the first three months, the company swung to a net profit of 7.76 million yuan (HK$9.09 million), compared with a 6.67 million loss over the same period a year prior. Its revenue rose 48.7 percent year-on-year to 195.9 million yuan during the period.

Camsense Technologies' cornerstone investors include BYD's (1211) Golden Link and Jiaxing ZMAX Optech's Taiwan ZMAX, with a total investment of HK$110 million.

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