Two Hong Kong IPOs make end-of-year listing dash By Reuters

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<span>© Reuters. The Hong Kong Stock Exchange is closed at the financial Central district as Typhoon Haima approaches in Hong Kong, China, October 21, 2016 . REUTERS/Bobby Yip/file photo</span><br />
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<p>By Scott Murdoch</p>
<p>(Reuters) &#8211; Chinese companies iMotion Automotive Technology and Henan Jinyuan Hydrogenated Chemicals are making a last-minute dash to list in Hong Kong before the end of the year, seeking a combined $130 million, according to regulatory filings lodged on Tuesday.</p>
<p>Self-driving firm iMotion is looking to raise HK$655.7 million ($84.00 million) by selling 22.11 million shares at HK$29.65 per share in a deal launched on Wednesday, the filings showed.</p>
<p>The initial public offering (IPO) has been pared back after the company initially aimed to raise $100 million, Reuters reported in November.</p>
<p>iMotion had earlier planned to raise up to $300 million but the ongoing financial market volatility prompted the company to reduce its fundraising target, one source with direct knowledge of the matter said previously.</p>
<p>Chemicals supplier Henan Jinyuan is looking to raise up to HK$358.4 million ($45.92 million) by selling 238.9 million shares at a price range of $HK1.10 to HK$1.50 each, its filings showed.</p>
<p>Elsewhere, lithium ion battery manufacturer REPT BATTERO will finalise on Wednesday the pricing for its Hong Kong IPO that is aiming to raise up to HK$2.4 billion ($307.48 million).</p>
<p>The three deals will not be enough to help Hong Kong&#8217;s flagging IPO market, bankers say, which is experiencing a multi-year low in new share sales.</p>
<p>There was $2.7 billion raised in the first three quarters of 2023 in Hong Kong, according to LSEG data, compared to $4.1 billion during the same period in 2022. </p>
<p>($1 = 7.8055 Hong Kong dollars) </p>
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