Beijing Geekplus Technology (HKG:2590) raised HK$2.55 billion in net proceeds from its initial public offering in Hong Kong after pricing the shares at HK$16.80 each, according to a late-Tuesday filing with the Hong Kong bourse.

The warehouse automation solutions provider offered 161,405,800 shares in total, comprising 70,176,600 shares under the Hong Kong public offering and 91,229,200 shares under the international offering. The total offered shares reflect the full exercise of the offer size adjustment option.

The Hong Kong public offering was 133.62 times subscribed, triggering a clawback of 56,141,200 shares from the international tranche. As a result, the number of shares offered under the Hong Kong tranche grew from 14,035,400 initially to 70,176,600.

The international offering was 30.17 times subscribed before reallocation. Following the clawback and full upsize option exercise, the number of shares offered under this component was reduced to 91,229,200 from 126,317,600 initially.

Four cornerstone investors, including Xiongan Intelligent Robot, Eastspring Investments, and Arc Avenue Asset Management, were allocated a combined 42.66 million shares, or about 46.8% of the international offering.

Geekplus Technology is set to debut on the Hong Kong Stock Exchange on Wednesday, July 9.