FINWIRES · TerminalLIVE
FINWIRES

Dajin Heavy Industry Raises HK$151 Million From Partial Exercise of Hong Kong IPO Overallotment

By

Dajin Heavy Industry (HKG:1081, SHE:002487) said its underwriters partially exercised the overallotment option of its Hong Kong listing, and the stabilization period of its initial public offering ended on Thursday, July 2, according to a same-day filing with the Hong Kong bourse.

The company issued nearly 2.3 million H shares at HK$66.40 apiece for additional net proceeds of HK$151.3 million.

The overallotment option was exercised after 15 million shares were over-allocated by the IPO's underwriters in the international portion of the issue.

The underwriters purchased 12.7 million H shares from the open market to meet the over allocation, with the difference coming from the partial exercise of the overallotment option.

The number of shares held by the public after the exercise of the overallotment option complied with Hong Kong's listing requirements, the firm said.

Related Articles

Asia

SSY Gets China Production Nod for Methocarbamol Tablets, Registers Phloroglucinol Dihydrate

SSY Group (HKG:2005) obtained production and registration approval for Methocarbamol Tablets and registration approval for Phloroglucinol Dihydrate from China's National Medical Products Administration, according to a Thursday Hong Kong bourse filing.The approval for Methocarbamol Tablets came as the drug passed the regulator's consistency evaluation.Methocarbamol Tablets are muscle relaxants mainly used to treat joint and muscle sprains, lumbar muscle strain, and sciatica.Phloroglucinol Dihydrate is used to treat acute spasmodic pain associated with digestive, biliary, urinary, and gynecological conditions.Shares of the firm were up nearly 5% in late morning trade on Thursday.

HKG:2005
Asia

Bellavista Resources Starts Drilling at Canada, Western Australia Projects; Shares Gain 3%

Bellavista Resources (ASX:BVR) started drilling the Pickle Crow gold project in Canada and at its Brumby project in Western Australia, according to a Thursday filing with the Australian bourse.Initial drilling at Pickle Crow for the remainder of the year will assess the open-pit potential on the existing mineral resource of 2.7 million ounces at 7.2 grams per tonne grade of gold, before moving to additional near-surface regional targets in early 2027.At Brumby, the company will assess mineralization continuity for a potential future resource definition drilling program, alongside column leach test work.Bellavista Resources shares gained 3% in recent Thursday trade.

ASX:BVR
Asia

Binastra Unit Bags MYR491 Million Data Center Development Deal

Binastra (KLSE: BNASTRA) unit Binastra Builders secured a 491.2 million ringgit turnkey contract to develop a seven-story data center in Kuala Lumpur, according to a Wednesday Bursa Malaysia filing.The contract, awarded by Exsim Sri Permai, covers the design, construction, testing, commissioning, maintenance and guarantee works, including foundation, substructure, main building and infrastructure works.The project, which also includes a guardhouse, refuse room and electrical substation, is scheduled to begin on July 1 and be completed within 18 months.

KLSE:BNASTRA