Media365
The company did not disclose the size of the fundraising or the expected timing of the listing. A Bloomberg report last year said the company aimed to raise US$200 million.
Manycore Tech plans to use the IPO proceeds to accelerate international expansion, targeting markets in South Korea, Southeast Asia, India, the US and Japan, according to a filing with the Hong Kong stock exchange. Funds will also go towards broadening its e-commerce product suite, building its own data centres, strengthening its domestic sales and marketing network and boosting brand visibility, it said.
The filing came amid a buoyant IPO market in Hong Kong, where newly listed shares have gained an average of 19.4 per cent on debut this year.
Hong Kong remains the preferred international fundraising venue for mainland Chinese enterprises, she said.
