06610.HK, a Chinese AR/VR content and service provider, has announced details of its IPO, which will begin tomorrow (29th) until noon next Friday, and is expected to be listed on October 18. The exclusive sponsor is Shen Wanhongyuan. The listing will sell 271.5 million shares globally, of which 10 per cent are local public offerings and 90 per cent are international placements, with a maximum of 15 per cent over-allotment rights. The selling price per share ranges from $2.21 to $2.88, and the maximum amount raised is about $782 million. The admission fee for each lot of 1000 shares is about $2909.02. About 40% of the proceeds will be used to enhance R & D capabilities and improve services and products; about 25% will be used to enhance sales and marketing capabilities; about 15% will be spent on mergers, acquisitions and strategic investments; and about 10% will be developed in the next 12 to 36 months. The remaining 10% is for working capital and general corporate purposes. Wang Lei, chairman of the board, said that after listing, it is expected to use Hong Kong's unique financing platform to create maximum value and speed up business expansion under the meta-cosmic development trend. According to market news, Feitian Yun.com has introduced five cornerstone investors, including Anji Guorong, 00020.HK, 08017.HK, etc., and subscribed a total of nearly 200 million yuan of offering shares available for subscription.