Wuxi Lead Intelligent Equipment (HKG:0470, SHE:300450) launched its Hong Kong initial public offering on Tuesday, seeking to raise up to HK$4.29 billion from the deal.

The China-based intelligent equipment manufacturer is offering 93.6 million H shares at a maximum price of HK$45.80 per share, according to a Tuesday Hong Kong bourse filing.

The offering comprises 9.4 million shares for Hong Kong investors and 84.3 million shares for international investors, subject to reallocation, the offer size adjustment option, and the overallotment option.

The offer price is expected to be determined by Feb. 9, with allocation results due Feb. 10, ahead of the company's planned trading debut on the Hong Kong Stock Exchange on Feb. 11.

Net proceeds will be used mainly to expand the group's global R&D, sales, and service network, including new facilities in Europe, broader after-sales coverage across Asia-Pacific and North America, and selective strategic investments and acquisitions to support overseas growth.

Funds will also support solid-state battery capacity expansion and new-energy equipment development in Wuxi, technology and product R&D upgrades, enhancements to digital infrastructure and manufacturing efficiency, and working capital and general corporate purposes.

CLSA, J.P. Morgan Securities (Asia Pacific), Huatai Financial (Hong Kong), and BOCI Asia are serving as joint global coordinators, joint bookrunners, joint lead managers, and capital market intermediaries, alongside CMB International Capital, ICBC International Securities, and SPDB International Capital.

ABCI is acting as a joint bookrunner, while ABCI Securities is acting as a joint lead manager.