The digital twin technology company 51WORLD starts its IPO today, with participation from SENSETIME-W and Moore Threads

The digital twin technology company 51WORLD (06651.HK) is going public in Hong Kong, planning to globally issue 23,975,200 H shares, with 5% (1,198,800 shares) allocated for public offering in Hong Kong and 95% (22,776,400 shares) for international placement. The offering price is set at HKD 30.5 per share, with expected fundraising of up to approximately HKD 731 million. The minimum trading unit is 200 shares, with an entry fee of about HKD 6,161.51. The subscription period runs from today (the 18th) until next Tuesday (the 23rd), with listing expected on the 30th of this month, with China International Capital Corporation and Huatai International serving as joint sponsors.

Based on the offering price of HKD 30.5, the net proceeds from the fundraising are approximately HKD 653 million, of which about 80% will be used for research and development, about 10% for marketing activities in China and overseas, and the remaining 10% for working capital and general corporate purposes.

51WORLD focuses on the technological development in three areas: 3D graphics, simulation, and artificial intelligence, providing digital twin solutions for enterprises of various sizes and industries, covering fields such as urban development, water resource protection, energy, automotive, transportation, robotics, entertainment, and social media. SenseTime (00020.HK), Moore Threads (688795.SH), Yunjiu Capital, First Code Artificial Intelligence, and Grandwin Enterprises (HK) Limited, owned by Liang Botao, are all pre-IPO investors in 51WORLD