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Excelland Robotics Nets HK$576.6 Million in Hong Kong IPO

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Excelland Robotics (Wuxi) (HKG:3231) is set to receive HK$576.6 million in net proceeds from its initial public offering in Hong Kong after pricing the shares below its maximum target.

The delivery robot maker priced 45 million H-shares at HK$14.45 apiece, the lower end of its price band of up to HK$19.55 each, according to a Tuesday bourse disclosure.

The Hong Kong public offering was subscribed 140.02 times, with 2.78 million shares allocated, while the international offering was subscribed 0.99 times, with 42.2 million shares allocated.

Cornerstone investors SensePower and CYGG Holding were allocated 1.1 million and 544,800 shares, representing 2.42% and 1.21% of the IPO shares, respectively.

Excelland is set to debut on the Hong Kong bourse on Wednesday, Sept. 9.

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