Sigenergy Technology targets 562 million dollar HK IPO

Sigenergy Technology Co, a Shanghai-based energy storage firm, is aiming to raise approximately HK$4.40 billion ($561.6 million) through an initial public offering in Hong Kong. According to a listing document filed on Wednesday, the company plans to issue 13.57 million H shares at an offer price of HK$324.20 per share. The shares are scheduled to begin trading on April 16 under the stock code 6656.

The move comes amid heightened scrutiny from regulators in China regarding offshore listings. This oversight has impacted the pace of activity in the regional IPO market, as authorities encourage certain firms to reorganize their corporate structures before going public.