Shenzhen Kinwong Electronic said on Friday that it had priced its Hong Kong share sale at HK$69.88 per share, aiming to raise HK$5.1 billion to expand capacity and meet AI-driven demand.
Here are some details:
The printed circuit board maker, which had set HK$69.88 as the maximum offer price, is offering 72.9 million H-shares in its global offering.
Kinwong expects to announce the level of demand for the international offering, the application results for the Hong Kong public offering and share allocation results on September 28.
Trading in the H-shares is expected to begin on the Hong Kong Stock Exchange on September 29, and the shares will trade in board lots of 100 under stock code 3228.
Kinwong plans to use the net proceeds to expand and upgrade production capacity for higher-value products to meet AI-driven demand and enhance manufacturing capabilities, among other purposes.
Kinwong is among four Chinese firms seeking to raise up to a combined HK$14.35 billion through separate Hong Kong listings, alongside RoboTechnik Intelligent Technology, Red Avenue New Materials and Direct Drive Tech.
Reuters
