InnoScience (Suzhou) Technology Holding (HKG:2577) launched its initial public offering in Hong Kong Wednesday, seeking to raise as much as HK$1.53 billion.
The gallium-nitride-on-silicon wafer manufacturer is offering up to 45,364,000 H shares at an indicative price of HK$33.66 apiece, according to an early Wednesday filing.
InnoScience (Suzhou) Technology secured Jiangsu Mixed Ownership Reform Fund, STHK, Dongfang Chuanglian, and Suzhou High-end Equipment as cornerstone investors, which committed to subscribe for $100 million worth of IPO shares.
The issuer expects to determine the price on Dec. 24 and disclose the allocations on Dec. 27. It will then start trading on the Hong Kong bourse on Dec. 30.
Proceeds from the deal will be used to expand production capacity, for research and development, portfolio expansion, enhancement of global distribution network, working capital, and other general corporate purposes.
Jefferies, Citic Securities, Huatai International, BOCI, Longbridge, and several others are the joint book-runners of the IPO.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。