Magic Intelligence plans to raise up to 1 billion Hong Kong dollars in its Hong Kong Stock Exchange listing.

According to the announcement of the Hong Kong Stock Exchange, Megvii Technology Limited plans to issue 35 million shares of stock, with a maximum price per share of 28.86 Hong Kong dollars. Calculations show that Megvii Technology is expected to raise up to 1 billion Hong Kong dollars; it will be listed for trading on March 10th; CICC is the exclusive sponsor.