China's Iluvatar CoreX seeks to raise $902 million in Hong Kong share sale (updated)
UPDATE 1-China's Iluvatar CoreX seeks to raise $902 million in Hong Kong share sale adds further detail and context in paragraphs 2-3 and 5
July 9 (Reuters) - China's Shanghai Iluvatar CoreX Semiconductor 9903.HK is looking to raise around HK$7.07 billion ($901.98 million) in a Hong Kong share sale, according to an exchange filing on Thursday.
The fundraising comes amid strong investor appetite for Chinese technology companies, with AI firms turning to Hong Kong's capital markets to fund research, hiring and expansion.
Knowledge Atlas Technology JSC 2513.HK, better known as Zhipu AI, priced its share offering in Hong Kong at the bottom end of the range earlier in the day, raising around HK$31.41 billion.
GPU designer Iluvatar CoreX is offering 14.9 million new H shares at HK$476 apiece, representing a 15% discount to the stock's last close.
The company said the proceeds from the share sale will be used to advance research and development, product iteration, and technology upgrades, among other uses.
($1 = 7.8383 Hong Kong dollars)
(Reporting by Nikita Maria Jino in Bengaluru; Editing by Rashmi Aich)
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