Huaxing capital issue price HK $31.8 per share, Hongkong public offering insufficient subscription


Huaxing capital issue price HK $31.8 per share, Hongkong public offering insufficient subscription

Sina Technologies News September 26 morning news, Huaxing Capital announced the results of the IPO distribution, including the Hong Kong issuance of insufficient share subscription. The international part was moderately oversubscribed.

Huaxing Capital's IPO price is set at HK$31.8 per share and is expected to be sold on the Stock Exchange's main board at 9 a.m. on September 27. The shares will be traded in the 100 units of each hand, and the share code is 1911.

Huaxing Capital's Hong Kong offering of 696969800 shares is equivalent to about 81.99% of Hong Kong's initial public offering. Hongkong's public offering of shares not yet subscribed has been redistributed to international sales.

The international offering shares were moderately oversubscribed. The final number of shares allocated to 117 international issuing underwriters is 78038200 shares, equivalent to about 91.80% of the total number of shares initially available for sale globally (assuming no excess rights are exercised).

In terms of cornerstone investors, Alipay (Hongkong) Holdings Limited subscribes 12334500 share offering shares and LGT Group Foundation to subscribe for 6167200 shares of offer shares and Snow Lake Funds to subscribe 12334500 shares, and subscribe for 30836200 share offering shares, accounting for about 36.27% (false) of the issued shares after the global sale. There is no exercise of excess rights; and the total amount of equity issued after the global sale is about 5.62% (assuming no exercise of excess rights).

Huaxing Capital expects net proceeds of HK $2.529 billion, of which about 40% will be used for further expansion of investment banking; about 20% for further expansion of investment management; about 20% for wealth management; about 10% for investment in technology development across all lines of business; and about 10% for general corporate use, including package. It includes working capital, operating expenses and capital expenditure. (Li Nan)


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