China's Estun Automation prices Hong Kong listing at bottom of range, raising $191 million

About this update from Shenzhen Zhaowei Machinery & Electronic Co., Ltd. Class A

By Nikita Maria Jino and Yantoultra Ngui China's Estun Automation SZSE:002747, SZSE:002747 has priced its Hong Kong listing at the bottom end of its offer range, the industrial robot maker said on Thursday, raising HK$1.49 billion ($190.54 million) from the share sale.Estun's decision to price at the bottom of the range comes as global markets remain skittish after the Iran war erupted on February 28, triggering a broad dash for cash that has lifted volatility and squeezed risk appetite.Estun, which is already listed in Shenzhen, has priced 96.8 million H shares for the Hong Kong listing at HK$15.36 per share, below the maximum offer price of HK$17 apiece announced last week.Estun was among a string of companies to seek listings in Hong Kong after the Lunar New Year holiday break, extending a brisk start of share launches in 2026.Hong Kong's stock market logged its strongest start to a year since 2021, with IPOs and second listings raising about $5.5 billion in January, the most since $7.6 billion in January 2021, LSEG data showed earlier in February.KBANK'S MUTED DEBUT IN KOREAInvestor caution has also shown in trading of new issues around the region. South Korean online lender KBank KRX:279570 ended just slightly above its IPO price after an early jump of as much as 19% on its domestic debut on Thursday.Estun last week said funds from the offering would support manufacturing capacity, research, development, and overseas growth initiatives at the company.The firm is expected to announce the level of indications of interest, applications, the basis of allocations and allocation results on Friday, with its shares slated to debut on the Hong Kong stock exchange on March 9.Other Hong Kong deals are also moving toward pricing and debut, potentially providing more of the first post-crisis gauge on sentiment.Shenzhen Zhaowei Machinery & Electronics SZSE:003021 and Alsco Pooling Service HKEX:2649 are expected to price their offerings soon this week, before debuting on the Hong Kong bourse on March 9 alongside Estun. Elsewhere in Asia, Singapore's UI Boustead REIT SGX:UIBU said in a statement on Thursday that its manager, UIB REIT Management, has registered the prospectus for its proposed listing on the Singapore Exchange SGX:S68.Malaysia's Sunway Healthcare (IPO-SUNA.KL) said in an emailed response to a Reuters query on Thursday that its IPO planned for March 18...

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