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Guoyi's Shanghai IPO Retail Portion Oversubscribed 5,645.64 Times

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Guoyi (SHA:688828) saw the retail portion of its Shanghai Stock Exchange's STAR Market board listing oversubscribed 5,645.64 times, according to a Thursday bourse filing.

The online offering comprised 6.4 million shares, but the offering size was increased to 9.6 million shares, accounting for 30% of the initial public offering after the clawback mechanism.

The offline offering comprised 25.6 million shares, but declined to 22.4 million shares, representing 70% of the IPO.

The Chinese quantum instrument maker refunded any excess subscription funds to investors of the strategic placement before Thursday.

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