Pateo Connect Surged 34% In Hong Kong Grey Market

TigerSep 29, 2025 8:19 AM

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Pateo Connect surged 34% in Hong Kong grey market.

The China-based smart cockpit domain controller provider for new energy vehicles is offering as many as 10,436,900 shares at an indicative price of HK$102.23 apiece.

Allocation results are expected to be disclosed Sept. 29, in time for the company's trading debut on the bourse on Sept. 30.

PATEO CONNECT attracted Horizon Together Holding, Huangshan SP and Smart Ventures Limited as cornerstone investors, which agreed to subscribe to approximately HK$465.9 million of the shares on offer.

Net proceeds of HK$919.1 million will be allocated towards the company's portfolio expansion, production, testing, and validation capabilities enhancements, sales and services network expansion, strategic acquisitions and for working capital and general corporate purposes.

China International Capital Corporation Hong Kong Securities, Guotai Junan Capital, CMB International Capital, Huatai Financial Holdings (Hong Kong) and CITIC Securities (Hong Kong) were tapped as joint sponsors, overall coordinators, sponsor-overall coordinators, joint global coordinators, joint bookrunners and joint lead managers of the offering.

CLSA Limited, BOCI Asia, ABCI Capital, Livermore Holdings and Tiger Brokers (HK) also act as joint bookrunners and joint lead managers.

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