Chinese Firms Set to Raise $842.8mln via Hong Kong Share Offerings

Two Chinese companies, Ligent Technologies and Shenzhen Forms Syntron Information, are set to raise a combined $842.8 million in Hong Kong via share offerings. Ligent Technologies aims to raise $723 million through an IPO, while Forms Syntron Information seeks to raise up to $943.4 million. The companies plan to use the funds for research and development, expansion, and strengthening sales channels. The offerings are expected to close Thursday, with shares starting trading on Sept. 22. Mainland Chinese companies have raised a record $342.4 billion through IPOs in Hong Kong in the first eight months of the year, more than double the amount raised in the same period last year.