Direct Drive Tech (HKG:6371) is set to receive HK$982.5 million in net proceeds from its initial public offering in Hong Kong.

The robotics and precision motor technology platform issued 50 million H-shares at HK$21.60 apiece, according to a Monday disclosure.

The Hong Kong public offering was subscribed 208.56 times, triggering a clawback that increased the allocation to 10 million shares from the initial 2.5 million.

The international offering was 2.72 times subscribed, with the final allocation reduced to 40 million shares from the initial 47.5 million.

Cornerstone investors were allotted 21.8 million shares, representing 43.54% of the IPO shares.

Direct Drive Tech is set to debut on the Hong Kong bourse on Tuesday, Sept. 29.