Cloud Factory (02512) launches IPO today, planning to issue 115 million shares, 10% of which will be offered for public sale in Hong Kong and the rest for international placement. The offer price per share is HKD 4.6, with an entrance fee of HKD 4646.39 for every 1000 shares. The stock is expected to be listed on June 14. Pu Yin International is the exclusive sponsor.
Based on 2022 revenue, the company ranks 11th among neutral service providers in the internet datacenter industry with a market share of 0.6%.
The company plans to use about 47.7% of the net proceeds raised for investing in various technologies to improve service quality and enhance operational efficiency; about 18.5% to enhance its Lingjingyun capability by developing edge computing infrastructure; about 12.8% to recruit teams to perform edge computing operation and edge cloud platform; about 11% to develop edge computing technology; and the remaining approximately 10% for operational capital and general corporate purposes.