BRIEF: Delton Technology launches $400 million Hong Kong IPO
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Deltone Technology (Guangzhou) Co., Ltd. launched its Hong Kong IPO on Thursday, planning to raise approximately HKD 3.18 billion (about USD 406 million) by selling 46 million shares. Subscription applications will close on March 17, and trading is expected to begin on March 20. Twelve cornerstone investors, including UBS, Barron's, and ICBC, have agreed to purchase shares worth USD 190 million, accounting for about 45% of the total offering. The company plans to use about half of the proceeds to expand and upgrade its main production base in Guangzhou, with another 20% allocated for the construction of the second-phase base in Thailand
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