Chinese wind power equipment maker Dajin Heavy Industry said on Wednesday it has determined the offer price for its Hong Kong listing at HK$66.40 apiece, aiming to raise HK$5.77 billion ($736.3 million).
The Shenzhen-listed company sets the offer price at HK$66.40 per H share, which is at the upper limit of its earlier estimate.
The debut comes amid a relentless surge in share sales by Chinese companies seeking to raise offshore capital.
Dajin will offer nearly 87 million shares and expects trading to begin on June 5.
It said it will announce details of the indications of interest in the international offering, and the levels of applications in the Hong Kong public offering on Thursday.
In its earlier filing, the company outlined plans to channel roughly 55 per cent of the sale proceeds into bolstering deep-sea wind capabilities, about 20 per cent towards establishing a European assembly hub, and the remainder into research, market expansion and working capital.
Huatai Financial and China Merchants Securities are acting as joint sponsors for the listing.
(Reporting by Shruti Agarwal in Bengaluru; Editing by Vijay Kishore)