New Gonow Recreational Vehicles (HKG:0805) launched its initial public offering in Hong Kong on Tuesday, seeking to raise as much as HK$393.6 million.
The recreational vehicles manufacturer is offering 240 million shares at between HK$1.24 to HK$1.64 apiece.
The issuer expects to determine its final offer price on Jan. 9 and disclose the allocations on Jan. 10. It will then start trading on the Hong Kong bourse on Jan. 13, according to a Tuesday filing.
Deal proceeds will be used to build a new production base, upgrade existing facilities, strengthen sales and distribution networks, fund research and development, and boost working capital.
Huatai International, CITIC Securities, CMB International, BOCI, and others are the joint bookrunners of the IPO.
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