Four Chinese companies aim to raise up to $1.83 billion through Hong Kong listings

Exchange filings show that four Chinese companies are preparing separate capital-raising transactions in Hong Kong that could total HK$14.35 billion (about $1.83 billion). RoboTechnik Intelligent Technology will issue 11.9 million H-shares at a maximum price of HK$436, potentially raising HK$5.18 billion, with an optional over-allotment that could lift the total to HK$6.85 billion. Shenzhen-based Kinwong Electronic and Red Avenue New Materials will each conduct secondary share sales to raise HK$5.10 billion and HK$3 billion respectively.

Direct Drive Tech plans an IPO for HK$1.08 billion. The offerings are scheduled to start trading on September 29, reflecting a broader rebound in Hong Kong’s IPO and secondary-listing market, which has generated about $45.8 billion this year versus $24 billion in the same period last year.