Shenzhen Camsense Technologies (HKG:6802) launched its Hong Kong initial public offering on Tuesday, seeking to raise up to HK$682 million.

The China-based technology company is offering 11.6 million H shares at HK$58.85 each, according to a Hong Kong bourse filing.

The offering comprises 1.2 million shares for Hong Kong investors and 10.4 million shares for international investors, subject to reallocation and the overallotment option.

Allocation results are due by Sept. 29, ahead of the company's planned trading debut on Sept. 30.

The proceeds will be used mainly to enhance R&D capabilities, strengthen core technologies, and develop sensor products, with the remainder allocated to enhance manufacturing capabilities and for working capital and general corporate purposes.

The offering has two cornerstone investors, Golden Link Worldwide and Taiwan ZMAX Optech, which have committed to subscribe for a combined HK$110 million worth of shares.

China International Capital Corporation Hong Kong Securities, Guosen Securities (HK) Capital and GF Securities (Hong Kong) Brokerage are serving as joint sponsors, sponsor-overall coordinators, overall coordinators and joint global coordinators.