RoboTechnik Intelligent Technology SZSE:300757, Shenzhen Kinwong Electronic SSE:603228 and Red Avenue New Materials SSE:603650 priced their Hong Kong share offerings on Friday, aiming to raise a combined HK$13.27 billion ($1.69 billion), as mainland Chinese companies increasingly turn to the city for capital.
Here are some details:
Automation equipment maker RoboTechnik priced its H shares at HK$436 each, at the top of the marketed range, to raise about HK$5.18 billion. The proceeds will support its photovoltaic and silicon-photonics equipment business.
Printed circuit board maker Kinwong priced its offering at HK$69.88 per share, also at the top of the range, to raise HK$5.1 billion as it expands capacity to meet AI-driven demand.
Materials producer Red Avenue priced its H shares at HK$44 each, the top of the range, to raise about HK$3 billion.
All three companies are expected to publish the results of their Hong Kong public offerings on Sept. 28, before their Main Board debuts on Sept. 29.
Hong Kong's IPO and secondary-listing pipeline has remained active this year, as mainland Chinese firms increasingly use the city to raise funds and broaden access to international investors.
($1 = 7.8436 Hong Kong dollars)