Chinese cable maker launches Hong Kong IPO

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    HL Technology Group (HL Technology) raised HK$500 million (US$64.4 million) from its initial public offering (IPO) on the Hong Kong Stock Exchange. The…

    HL Technology Group (HL Technology) raised HK$500 million (US$64.4 million) from its initial public offering (IPO) on the Hong Kong Stock Exchange. The PRC-based company is a provider of cable and connector related products.

    HL Technology plans to use 44% of the raised capital for the production of new products, 40% will be used to expand production capacity, 6% will go to the establishment of a research base, and the remainder will be used to replenish working capital.

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