Lingyi iTech (Guangdong) Co. (SHE:002600) submitted application documents for its proposed listing on the Hong Kong Stock Exchange, according to a Friday filing with the Shenzhen bourse.
The artificial intelligence hardware intelligent manufacturing platform operator plans to use the proceeds from its IPO to boost its research and development, fund mergers and acquisitions, upgrade manufacturing infrastructure, and for working capital, documents submitted to the Hong Kong bourse showed.
Shares fell 2% during morning trading on Friday.
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