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Caviar Producer Xunlong Sci-tech Nets HK$1.15 Billion in Hong Kong IPO

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Hangzhou Qiandaohu Xunlong Sci-tech (HKG:6715) will receive HK$1.15 billion in net proceeds from its initial public offering in Hong Kong.

The Chinese caviar company priced its IPO at HK$75.50 per share, issuing 16.3 million shares, according to a Monday after-market filing with the Hong Kong Exchange.

The Hong Kong public offering portion of the deal was 2,134.81 times subscribed, with 1.63 million shares allocated, while the international offering was 19.87 times subscribed, with roughly 14.7 million shares allocated.

Cornerstone investors were allotted 8.15 million shares, or almost half of the IPO shares.

Xunlong Sci-tech is set to debut on the Hong Kong bourse today, June 30.

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