Shenzhen Dobot (HKG:2432) launched its initial public offering in Hong Kong, seeking to raise as much as HK$832 million.
The robotics services provider is offering 40,000,000 shares at HK$18.80 to HK$20.20 apiece.
The issuer expects to determine its offer price on Dec. 19 and disclose the allocations on Dec. 20. It will then start trading on the Hong Kong bourse on Dec. 23, according to a Friday filing on the exchange.
Proceeds from the deal will be used to develop technology for intelligent robots, production lines and manufacturing capabilities, building business alliances through strategic acquisitions, building overseas sales channels, and working capital and general corporate purposes.
Guotai Junan International, ABC International, PA Securities (HK), Shenwan Hongyuan, and TradeGo Market are the joint bookrunners of the IPO.
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