Metis TechBio (HKG:7666) raised HK$1.99 billion in net proceeds from its initial public offering in Hong Kong.

The final offer price was set at HK$10.50 per H-share, according to a Tuesday after-market filing with the Hong Kong Stock Exchange.

The China-based AI-driven nanotechnology company offered 201.2 million H-shares in the global offering.

The Hong Kong public offer was 6,910.96 times subscribed, with a final allocation of 40.2 million shares, representing 20% of the total offering.

The international offering was 33.86 times subscribed, with a final allocation of 161 million shares, or 80% of the total offering.

An over-allocation of 30.2 million shares was made under the global offering.

Cornerstone investors, including BlackRock, UBS AM Singapore, China Venture Capital Innovation Investment Fund, Mirae, and HHLRA, were allotted a combined 110.4 million shares, representing 54.87% of the global offering, according to the filing.

Metis TechBio is set to debut on the Hong Kong bourse on Wednesday, May 13.