Six firms launch HK IPOs ahead of half-year close

Six companies started accepting orders for its initial public offering in Hong Kong on Monday, rushing to market before the half-year close.

Among them, Apple supplier Lens Technology is aiming to raise up to HK$4.76 billion by offering 262 million H-shares at HK$17.38 to HK$18.18. Its A-shares closed at 22.3 yuan on Monday, implying an 18.5 percent to 28.3 percent discount to the H-share price range.

Chip designer Fortior Technology (Shenzhen) aims to raise up to HK$1.96 billion by offering 16.3 million H-shares at up to HK$120.50 each. The minimum investment is HK$12,171.53.

Robotics firm Beijing Geekplus Technology is targeting HK$2.35 billion in its IPO with a fixed price of HK$16.80 per share.

Beijing Xunzhong Communication Technology, a cloud communication services provider, is aiming to raise up to HK$461 million with a price range of HK$13.55 to HK$15.15 per share. The company ranked third in China’s cloud communication market in 2024, according to Frost & Sullivan.

Wuhan Dazhong Dental Medical is seeking to raise up to HK$232 million at an offer price of HK$20 to HK$21.40.

Beijing Shougang LanzaTech Technology, active in carbon capture, utilization and storage, plans to raise up to HK$380 million by issuing roughly 20.2 million H-shares at HK$14.50 to HK$18.88. It is the first CCUS player in China to commercialize low-carbon products using synthetic biology.

All six companies are set to close their retail books on July 4 and are scheduled to list on the city’s stock exchange on July 9.

STAFF REPORTER