Shenzhen Senior Technology Material, a manufacturer of lithium-ion battery separators already traded in Shenzhen, intends to raise 1.34 billion Hong Kong dollars, or approximately $171 million. The firm plans to sell 149.5 million shares at a ceiling of HK$8.98 apiece. Founded in 2003, the company intends to funnel the proceeds into research for solid-state battery technology and expansion efforts in Malaysia and the U.S.

Simultaneously, the Chengdu-based biotechnology firm HJ Science is eyeing a HK$1.11 billion raise. The company, which specializes in autoimmune, metabolic, and oncological therapies, has set its pricing at HK$81.80 per share for its 13.6 million-share offering. Both deals are slated to conclude on Wednesday, with trading debuts scheduled for June 23.

These listings arrive during a significant recovery for Hong Kong’s capital markets. Data from Hong Kong Exchanges & Clearing indicates that companies raised HK$166.8 billion during the first five months of the year, more than doubling the HK$79.2 billion recorded during the same period in 2023.