Chinese mainland industrial automation equipment maker Wuxi Lead Intelligent Equipment plans to raise up to HK$4.29 billion ($549 million) in a Hong Kong Special Administrative Region listing to fund global expansion, an exchange filing showed on Tuesday.

The proceeds will fund the global expansion of its R&D and sales and service network, and will also go toward broadening its portfolio, strengthening digital infrastructure, and providing working capital funding, the filing said.

Shenzhen-listed Wuxi Lead is offering 93.6 million H shares at a maximum offer price of HK$45.8 each, the filing showed. At the top end of the price range, the company would have a market cap of HK$108.28 billion.

Final pricing of the listing is slated for February 10, with shares due to debut the following day.

Cornerstone investors include Oaktree Capital Management, Pinpoint Asset Management Limited and Aspex Master Fund, according to the exchange filing.

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Wuxi Lead's offering adds to a pipeline of deals looking to tap Hong Kong's revived equity capital markets. The city topped global IPO fundraising in 2025, with companies raising about $37.2 billion from 115 new listings, according to data compiled by LSEG.

Founded in 2002, Wuxi Lead builds automated machines and production-line systems used to make battery cells and packs for electric vehicles and energy storage, as well as equipment for solar cell and module manufacturing.

Revenue in the nine months ended September 30, 2025, rose 14.9 percent to 10.39 billion Chinese yuan ($1.50 billion) from 9.04 billion Chinese yuan a year earlier, while net profit almost doubled to 1.16 billion yuan from 587 million yuan.

The company said on January 25 it expects its full-year 2025 net profit jumped 424.3 percent-529.2 percent compared with 2024.