The company, also known as XtalPi, aims to raise up to HK$1.13 billion (US$144.5 million) in an IPO from Tuesday, as its chairman hopes its listing will encourage more companies to use the new Chapter 18C rule.
The "Kunpeng" shield tunneling machine, jointly developed by China Railway 11th Bureau Group and China Railway Construction Heavy Industry Co Ltd, was successfully launched at the construction site for the Shenzhen - Dongguan tunnel west section of Shenzhen - Jiangmen Railway, Guangdong province, on May 30.