Chinese firm Fourth Paradigms aims to raise $280 million from IPO

The spotlight is on three Chinese firms with Beijing’s Fourth Paradigm taking the lead.

Here are the key points to know:

• Beijing Fourth Paradigm is setting the stage high, aiming to secure $144M from the sale of 18.4 million shares, priced between HK$55.60 and HK$61.16 per share.

• Already off to a promising start, Fourth Paradigm has secured $96.8M in stock from three cornerstone investors, with New China Capital Management at the helm. This accounts for an impressive 70.6% of the IPO.

• However, Fourth Paradigm's recent addition to the U.S. "Entity List" means they need a permit from the Commerce Department for tech shipments from U.S. suppliers.

• Established in 2014, Fourth Paradigm has been involved in various sectors, including finance, retail, manufacturing, healthcare, and more, using their AI expertise.

Two other players are also in the race: Neusoft Xikang, the cloud hospital platform, is putting forward 133.8 million shares, hoping to bag between $81M and $101M. While ZX Inc, the mobile game operator, is offering 18.97 million shares at a range of HK$11 to HK$14 each, targeting a collection of $27M to $34M.