RECONOVA starts HK IPO at HKD21.66 per share

Mainland Chinese visual intelligence AI company RECONOVA (07656.HK) launched its Hong Kong IPO today, offering shares at HKD21.66 apiece.

The company will offer 28.087 million H shares globally, with about 5% allocated to the Hong Kong public offering and 95% to the international placing. Each board lot of 200 shares requires an entry fee of approximately HKD4,375.69. Net proceeds are estimated at about HKD529 million based on the offer price.

The subscription period runs from today (June 29) through Friday (July 3), with trading expected to begin on Wednesday (July 8). RECONOVA plans to list on Hong Kong's Main Board under Chapter 18C, the exchange's listing regime for specialist technology companies that allows pre-revenue or pre-profit firms to go public.

The listing gives RECONOVA access to international capital markets as Hong Kong deepens its pipeline of tech IPOs from mainland China. The pricing implies a valuation that will be tested when trading begins on July 8, with first-day volume and price action serving as an early gauge of institutional demand for AI companies under the Chapter 18C framework.

This article is for informational purposes only and does not constitute investment advice.