Zhongke WengeAI Seeks Up to HK$900 Million in Hong Kong IPO

MT Newswires Live06-17 09:53

Beijing Zhongke WengeAI Science and Technology (HKG:1956) launched its Hong Kong initial public offering on Wednesday, seeking to raise up to HK$900 million.

The Chinese artificial intelligence company is offering 14.8 million H-shares at an indicative maximum price of HK$60.70 per share, according to a Hong Kong bourse filing.

The offering comprises 741,800 shares for Hong Kong investors and 14.09 million shares for international investors, subject to reallocation and the over-allotment option.

The offer's allocation results are due by June 25, ahead of the company's planned trading debut on June 26.

Net proceeds will be used primarily to advance Zhongke WengeAI's foundational models and core research and development capabilities.

China International Capital Corp., ABCI Securities, China Galaxy International Securities, TFI Securities and Futures, SPDB International Capital, CCB International Capital, Futu Securities International, CMB International Capital, Tiger Brokers (HK) Global and Livermore Holdings are serving as the underwriters for the offering.

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