Sigenergy Technology Seeks Up to HK$4.4 Billion in Hong Kong IPO

MT Newswires Live04-08

Sigenergy Technology (HKG:6656) launched its Hong Kong initial public offering on Wednesday, seeking to raise about HK$4.4 billion from the deal.

The China-based energy storage provider is offering 13.6 million H-shares at an indicative price of HK$324.20 per share, according to a Hong Kong bourse filing.

The offering comprises 1.4 million shares for Hong Kong investors and 12.2 million shares for international investors, subject to reallocation and the overallotment option.

The Hong Kong public offering closes on April 13, with allocation results due by April 15, ahead of the company's planned trading debut on April 16.

Net proceeds will be used mainly to expand research and development, including hiring talent and upgrading equipment, as well as strengthening global marketing and after-sales capabilities.

The funds will also support production capacity expansion, diversification of energy storage products, and provide for working capital and general corporate purposes.

CITIC Securities (Hong Kong) and BNP Paribas Securities (Asia) are acting as joint sponsors.

CLSA and BNP Paribas Securities (Asia) are serving as sponsor-overall coordinators and overall coordinators.

CLSA, BNP Paribas Securities (Asia), and China International Capital Corporation Hong Kong Securities are acting as joint global coordinators, joint bookrunners, and joint lead managers.

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