Four Chinese Firms Seek $1.83 Billion in Hong Kong Listings

Four Chinese companies are seeking to raise as much as HK$14.35 billion ($1.83 billion) through separate listings in Hong Kong, exchange filings showed on Monday, with automation equipment maker RoboTechnik Intelligent Technology leading the group.

The Shenzhen-listed RoboTechnik is offering 11.9 million H shares at a maximum price of HK$436 each, a deal that could bring in about HK$5.18 billion. Should a 15% offer size adjustment option and an over-allotment option both be exercised in full, the total could climb to HK$6.85 billion at the top offer price.

The company supplies equipment for photovoltaic cell manufacturing as well as assembly and testing systems for silicon photonics devices used in optical interconnects for data centres and AI infrastructure.

Three other firms are also tapping the market. Printed circuit board maker Shenzhen Kinwong Electronic is seeking up to HK$5.10 billion through a secondary share sale, while materials producer Red Avenue New Materials is aiming for up to HK$3 billion in a similar offering. Precision motor solutions provider Direct Drive Tech is pursuing an initial public offering that could raise HK$1.08 billion.

Shares of all four companies are expected to begin trading on the exchange on September 29.

The flurry of activity comes as Hong Kong's market for initial public offerings and secondary listings continues to gain momentum. Deals have raised roughly $45.8 billion so far this year, compared with $24 billion during the same period last year, according to LSEG data.