Direct Drive Tech Sets IPO Launch on Hong Kong Main Board with HKD 1.08 Billion Target

Direct Drive Tech has launched its initial public offering (IPO) on the Hong Kong Stock Exchange, with plans to list on the Main Board on September 29, according to KrASIA. The company began taking orders on September 21, continuing through September 24.

The IPO consists of 50 million H shares, split between 2.5 million shares available in the Hong Kong public offering and 47.5 million shares in the international offering. At an offer price of HKD 21.60 (USD 2.8) per share, Direct Drive Tech aims to raise approximately HKD 1.08 billion (USD 137.7 million) before any greenshoe option is exercised, KrASIA reported.

For Japanese investors, the listing highlights growing opportunities in the Hong Kong market, which continues to attract tech firms seeking capital amid dynamic regional growth in equities and FX.