Breton Technology (HKG:1333) launched its initial public offering in Hong Kong on Friday, seeking to raise HK$234 million from the deal.
The electric-powered engineering machinery company is offering 13 million shares at HK$18 apiece, according to a Friday filing with the Hong Kong bourse.
Breton expects to disclose allocation results on May 6. Shares will begin trading on the stock exchange on May 7.
The electric-powered engineering machinery company intends to use the proceeds for new product development and enhancement, construction of manufacturing facilities and purchase of machinery, brand marketing and awareness, and for working capital.
Breton attracted Sunwoda Electronic (SHE:300207) subsidiary HongKong Xinwei Electronic and Changfeng Growth Equity Fund as cornerstone investors.
China International Capital Corp. Hong Kong Securities, CMB International Capital, CCB International Capital, China Galaxy International Securities (Hong Kong), Citrus Securities, TradeGo Markets, and SPDB International Capital, are the joint bookrunners and lead managers of the IPO.
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