Chinese AI firm Fourth Paradigm leads Hong Kong’s IPO surge to raise $280 million. Three Chinese companies, led by AI software provider Beijing Fourth Paradigm, want to raise $280 million in Hong Kong’s initial public offerings that began on Monday.
According to regulatory documents, Beijing Fourth Paradigm, an AI firm, plans to raise $144 million by selling 18.4 million shares at HK$55.60 to HK$61.16 each.
According to the documents, three cornerstone investors, led by New China Capital Management, have subscribed for about $96.8 million in equity, accounting for 70.6% of the IPO.
Fourth Paradigm was listed on the United States’ “Entity List” this year, which implies that US suppliers are prohibited from transferring US technology to it unless they secure a difficult-to-obtain license from the Commerce Department.
According to its website, Fourth Paradigm’s solutions have been used in banking, retail, manufacturing, healthcare, energy and power, telecommunications, healthcare, and other sectors since its inception in September 2014.
According to regulatory documents, the Chinese cloud hospital platform Neusoft Xikang plans to raise $81 million to $101 million by selling 133.8 million shares.
The stock is priced between HK$4.76 and HK$5.91 a share.
According to its prospectus, ZX Inc offers 18.97 million shares at HK$11 to HK$14 each to raise between $27 million and $34 million.
Comment Template