Amicro Technology leaps in trading debut after weak pricing
Shares of robotics technology platform Amicro Technology Co. Ltd. (2065.HK) opened 37.6% higher in their Hong Kong trading debut on Thursday, then continued to climb to close the morning session at HK$17.92, up 81%.
The company sold 71.69 million shares for HK$9.90 each, at the lower end of its indicative price range of HK$9.27 to HK$11.58. The public offering for local investors was oversubscribed by nearly 13 times, while the international placement was merely fully covered. The deal attracted two cornerstone investors, who subscribed for 9.9 million shares, accounting for 13.81% of the total offering.
Net proceeds from the offering totaled HK$656 million ($84.1 million). The company will use 70% of the funds to strengthen its competitive edge in software, hardware, and robot-specific AI SoCs; another 10% is earmarked for ongoing customer collaboration; another 10% will be directed toward strategic investments and acquisitions, with the remaining 10% to serve as general working capital.
By Lau Chi Hang
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