Manycore Tech Inc. has formally launched its Hong Kong IPO in the present day, with the subscription interval operating by means of April 14. The corporate plans to record on the Hong Kong Inventory Change Principal Board on April 17, 2026, below the inventory code “0068.”
This itemizing will make Manycore Tech the primary among the many so-called “Hangzhou Six Little Dragons” to finish an IPO milestone, and doubtlessly the world’s first publicly listed “spatial intelligence” firm.
The corporate plans to difficulty roughly 161 million shares in whole, together with round 16.06 million shares for the Hong Kong public providing and about 145 million shares for the worldwide tranche. Primarily based on an indicative value vary of HKD 6.72 to HKD 7.62 per share, Manycore Tech is anticipated to lift as much as HKD 1.227 billion (roughly USD 157 million), excluding any over-allotment possibility.
Notably, the IPO has attracted a extremely diversified group of cornerstone buyers, committing a complete of roughly HKD 455 million (round USD 58 million). These embody insurance coverage giants akin to Taikang Life and Sunshine Life, main public funds like GF Fund, and well-known funding corporations together with Mirae Asset, Jinyong Funding, and Wusong Capital. Strategic trade companions akin to Hesai Know-how and Huaying Development, in addition to state-backed capital like Guohui Hong Kong, additionally participated.
Mirae Asset’s involvement—a part of South Korea’s Mirae Asset Monetary Group—alerts robust confidence from international long-term capital in each the spatial intelligence sector and Manycore Tech’s progress potential. The agency has lately backed main IPOs together with CATL, MiniMax, and Montage Know-how, all firms with valuations reaching into the a whole bunch of billions.
Previous to the IPO, Manycore Tech had already secured backing from top-tier buyers akin to IDG Capital, GGV Capital, Hillhouse Ventures, Shunwei Capital, Matrix Companions China, Coatue, Hearst, Pavilion Capital, Yunqi Companions, and Linear Capital.
Supply: IPO Zaozhidao
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