MeiG Smart Technology plans 129 million Hong Kong listing

MeiG Smart Technology Co., Ltd, a Shenzhen-based provider of wireless data terminals for Internet of Things (IoT) devices, is seeking to raise as much as HK$1.01 billion ($129.1 million) through its initial public offering in Hong Kong.

According to an exchange filing released on Friday, the company, which has its primary operations in China, is offering 35 million shares. The maximum offer price has been established at HK$28.86 per share. This capital raise marks a significant step for the company as it looks to leverage international capital markets to support its growth.