China’s Shenzhen Longsys Electronics is seeking to raise up to HK$6.27 billion ($799.80 million) through a Hong Kong listing, according to an exchange filing on Monday.
The Shenzhen-listed semiconductor company is offering a total number of 26.1 million H shares at a maximum offer price of HK$240.60 per share.
The company plans to finalise the offer price on September 4, with allocation results to be announced by September 7.
The firm’s H shares are expected to begin trading on September 8.
The company reported year-on-year growth of more than 71,000% in its half-year net profit released this month.
It plans to use around 78.3% of the net proceeds from the share sale to enhance its independent research and development and innovation capabilities in key areas including chip design and advanced memory product development.
Lenovo Group and Ingenic Semiconductor are among the cornerstone investors for the share sale.
Reuters
