SYDNEY, Sept 18 Reuters Three Chinese firms, led by AI software company Beijing Fourth Paradigm, are aiming to raise up to 280 million in Hong Kong initial public offerings launched on Monday.

Beijing Fourth Paradigm, an AI startup, is aiming to raise up to 144 million by selling 18.4 million shares in a price range of HK55.60 to HK61.16 each, according to its regulatory filings.

Three cornerstone investors, headed by New China Capital Management, have subscribed for about 96.8 million worth of stock, which equates to 70.6 of the IPO, the filings showed.

Fourth Paradigm was added to the U.S. Entity List this year, which means U.S. suppliers are barred from shipping U.S. technology to it unless they can procure a difficulttoobtain licence from the Commerce Department.

Founded in September 2014, Fourth Paradigm39;s products have been used in finance, retail, manufacturing, healthcare, energy and power, telecommunications, healthcare and other sectors, according to its website.

Separately, Chinese cloud hospital platform Neusoft Xikang is aiming to raise 81 million to 101 million by selling 133.8 million shares, regulatory filings showed.

The stock is being sold in a price range of HK4.76 to HK5.91 each.

ZX Inc, the mobile games operator, is selling 18.97 million shares in a range between HK11 to HK14 each to raise between 27 million and 34 million, according to its prospectus.

Reporting by Scott Murdoch in Sydney; Editing by Stephen Coates

Source Reuters