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Dtech Technology Nets HK$4.7 Billion in Hong Kong IPO

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Guangdong Dtech Technology (SHE:301377, HKG:1377) raised HK$4.66 billion in net proceeds from its initial public offering in Hong Kong.

The drill bits supplier priced its IPO at HK$380 per share, issuing 12.6 million shares, according to a Wednesday after-market filing with the Hong Kong Exchange.

The Hong Kong public offering portion of the deal was 354.64 times subscribed, with 1.2 million shares allocated, while the international offering was 24.5 times subscribed, with roughly 10.5 million shares allocated.

Cornerstone investors were allotted 5.23 million shares, representing 41.5% of the IPO shares.

Dtech Technology is set to debut on the Hong Kong bourse today, July 9.

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