FINWIRES · TerminalLIVE
FINWIRES

Manycore Tech Raises HK$1.1 Billion From Hong Kong IPO Ahead of Debut

-- Manycore Tech (HKG:0068) raised HK$1.09 billion in net proceeds from its initial public offering in Hong Kong.

The final offer price was set at HK$7.62 per share, the top end of the offer price range, according to a Thursday after-market filing with the Hong Kong Stock Exchange.

The China-based cloud-native spatial design software provider offered 160.6 million shares in the global offering.

The Hong Kong public offer was 1,590.56 times subscribed, with a final allocation of 16.1 million shares, representing 10% of the total offering.

The international offering was 14.46 times subscribed, with a final allocation of 144.6 million shares, or 90% of the total offering.

An over-allocation of 24.1 million shares was made under the global offering.

Cornerstone investors, including Taikang Life Insurance, Sunshine Life Insurance, GF Fund Management, Redwood Elite, Mirae Asset Securities, and others, were allotted a combined 59.6 million shares, according to the filing.

Manycore Tech is scheduled to debut on the Hong Kong bourse on Friday, April 17.

Related Articles

Australia

Jefferies Raises Quest Diagnostics Price Target to $225 From $220

Quest Diagnostics (DGX) has an average rating of overweight and mean price target of $219, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $204.33, Change: $+8.02, Percent Change: +4.09%

$DGX
Australia

Truist Securities Cuts Tractor Supply Price Target to $44 From $55, Hold Rating Kept

Tractor Supply (TSCO) has an average rating of overweight and mean price target of $56.19, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $39.92, Change: $-4.90, Percent Change: -10.92%

$TSCO
Sectors

Sector Update: Energy

Energy stocks were higher Tuesday afternoon, with the NYSE Energy Sector Index rising 1.1% and the State Street Energy Select Sector SPDR ETF (XLE) adding 1.2%.The Philadelphia Oil Service Sector Index was climbing 1.8%, while the Dow Jones US Utilities Index fell 1.3%.Front-month West Texas Intermediate crude oil was rising 4.8% to $93.94 a barrel, and the global benchmark Brent crude contract was advancing 4.4% to $99.68 a barrel. Henry Hub natural gas futures increased 0.3% to $2.70 per 1 million BTU.In corporate news, Halliburton (HAL) shares gained 4.1% after it reported lower Q1 adjusted net income and revenue that still topped analysts' expectations.

$HAL