Minieye Technology Raises HK$606 Million in Hong Kong IPO Ahead of Dec. 27 Debut

MT Newswires Live2024-12-26

Minieye Technology (HKG:2431) raised HK$605.6 million in net proceeds from its Hong Kong initial public offering after pricing the shares at the bottom of the indicative price range.

The advance driving system developer issued 39,190,000 shares at HK$17.00 apiece, the bottom end of its guidance of as high as HK$20.20 each, according to a Tuesday disclosure.

The deal's Hong Kong or public offering portion was 14.04 times oversubscribed, but the firm maintained the allocation at 3.9 million shares.

The international or placing shares were 1.09 times oversubscribed, and the firm issued nearly 35.3 million shares.

Minieye Technology secured 2 cornerstone investors that subscribed for 31,778,600 shares in the IPO.

Minieye Technology will debut on the Hong Kong bourse on Friday, Dec. 27.

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