SHENZHEN – PCB manufacturer Welgao has applied for an IPO on the Hong Kong Stock Exchange's Growth Enterprise Market, with plans to raise 601.3 million yuan ($82.6 million) on a new facility that will increase its annual production to 3 million sq. m.

The construction of a new facility is planned to take the next two years, and the company's 2022 production capacity of 1.9 million sq. m. is expected to increase by 1.2 million sq. m. after the fundraising and investment project reaches production capacity. 　

The company's current issuance price is 28.88 yuan ($3.97) per share, and the company expects to raise a total of 972 million yuan ($113.5 million) in the IPO. Weiergao's products include double-sided boards, multi-layer boards, thick copper boards, mini LED photoelectric boards, and planar transformer boards, which are used in industrial control, display, consumer electronics, communication equipment and other fields.