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Baige Digital Raises HK$466 Million in Hong Kong IPO

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Baige Online Digital Technology (HKG:2672) raised HK$465.8 million in net proceeds from its initial public offering in Hong Kong after pricing the shares at the bottom of the indicative range, according to a Friday after-market filing with the Hong Kong Exchange.

The insurtech company issued 33.3 million shares at HK$15.60 each, the lower end of its guidance of as high as HK$20.28 per share.

The Hong Kong public offering portion of the deal was 242.05 times subscribed, with 3.33 million shares allocated, while the international offering was 2.44 times subscribed, with 30 million shares allocated.

Cornerstone investors were allotted 1.28 million shares, the filing stated.

Baige Digital is set to debut on the Hong Kong bourse today, June 29.

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