SDMC targets HKD 570 million in Tencent-backed Hong Kong IPO

Rachel Tang

·May 18 2026, 02:56

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Key Takeaways:

SDMC (00901.HK) is offering 19.2 million shares at HKD 32.8 each, aiming to raise approximately HKD 570 million.
The public offering runs from May 18 to May 21, with the stock expected to begin trading on May 27.
Key shareholders include affiliates of Tencent and Luxshare Precision, with China Securities International as the sole sponsor.

Smart home product provider SDMC launched its Hong Kong initial public offering, seeking to raise approximately HKD 570 million in net proceeds.

The offering has notable backing from shareholders including a subsidiary of Tencent Holdings and Luxshare Precision Industry. China Securities International is the sole sponsor for the deal.

The company is offering 19.2073 million H-shares globally at a price of HKD 32.8 per share. The offering is split between a 10% allocation for the Hong Kong public and 90% for international investors. The minimum investment, for a board lot of 100 shares, is approximately HKD 3,313.08.

The public subscription period closes at noon on May 21, with the shares scheduled to debut on the Hong Kong Stock Exchange's Main Board on May 27.

The IPO pricing provides a key valuation test for a technology company with prominent strategic backers like Tencent. First-day trading performance on May 27 will be a crucial indicator of investor appetite for new listings in the Hong Kong market.

This article is for informational purposes only and does not constitute investment advice.