China’s Wuxi Lead Intelligent Equipment said on Monday it plans to price its Hong Kong listing at the maximum offer price, targeting proceeds of about HK$4.29 billion ($548.90 million) from the share sale.
The industrial automation equipment maker was offering 93.6 million H shares in the secondary listing at the offer price of HK$45.80 apiece.
The funds will be used for the global expansion of its R&D, and sales and services network, among others, according to an earlier filing.
Founded in 2002, the Shenzhen-listed company builds automated machines and production-line systems used to make battery cells and packs for electric vehicles and energy storage, as well as equipment for solar cells and module manufacturing.
Wuxi Lead said it would announce the other relevant details of the listing, including allocations, on February 10. Its shares are expected to debut on the Hong Kong Stock Exchange on February 11.
($1 = 7.8157 Hong Kong dollars)
Reuters
