An AI circuit board maker and an electric vehicle producer each passed HKEX vetting this week. The EV firm eyes a Hong Kong debut this month with a $250 million offering.
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KINWONG, TAOTAO clear HK listing hearings as TAOTAO targets $250M raise
Two mainland-listed companies passed their Hong Kong exchange vetting this week, clearing the path for secondary listings that could bring one of them to the city's market within weeks.
KINWONG ELECTRONIC (603228.SH), an AI printed circuit board manufacturer trading on the Shanghai exchange, secured HKEX approval on the 7th. TAOTAO VEHICLES (301345.SZ), a maker of electric low-speed vehicles listed in Shenzhen, passed its hearing on Monday.
TAOTAO reportedly plans to debut in Hong Kong as early as this month, raising about $250 million. Offer price, cornerstone investors, and use-of-proceeds breakdown have not yet been disclosed.
KINWONG shares rose 0.944 percent on the Shanghai exchange, while TAOTAO shares fell 1.494 percent on the Shenzhen exchange. HKEX short-selling data showed $120.82 million in short positions with a ratio of 17.232 percent as of Sept. 8.
The dual listings would give both companies access to international capital and a broader investor base beyond mainland China. KINWONG's AI PCB business places it in the artificial intelligence hardware supply chain, while TAOTAO's low-speed electric vehicle segment serves China's urban mobility market.
Both companies join a growing pipeline of A-share issuers seeking Hong Kong listings. The listing dates and final offer prices will be watched closely by investors tracking the A-to-H dual-listing trend.
This article is for informational purposes only and does not constitute investment advice.
