FINWIRES · TerminalLIVE
FINWIRES

HKC Raises Nearly 7.4 Billion Yuan in Shenzhen IPO

By

HKC (SHE:001399) priced its Shenzhen initial public offering at 10.12 yuan per share, raising 7.39 billion yuan through the issuance of 729.8 million shares, according to a Tuesday bourse filing.

The display panel manufacturer allocated 364.9 million shares, or 50% of the offering, to strategic investors, including Hisense Visual Technology, China Mobile Investment, Sinopec Capital, and Xinhua Life Insurance.

The online offering was 2,313.88 times subscribed before a clawback mechanism was triggered, resulting in 146 million shares being reallocated from the offline tranche to the online tranche.

Following the reallocation, the final offline offering totaled 109.5 million shares, while the final online offering amounted to 364.9 million shares.

Related Articles

Asia

Singapore Regulator to Streamline 'Single Family Office' Framework

The Monetary Authority of Singapore has revised its "single family office" (SFOs) framework to streamline the process for SFOs to establish operations in Singapore, according to a MAS release.An SFO in Singapore is a privately held corporate entity set up by one "ultra-high-net-worth" family to manage assets, investments, and wealth of a single family.The registration protocols have been simplified, effective June 15, with offices required to notify MAS of their operations through a MAS-licensed bank.Annual reporting has been made more straightforward for SFOs, with information on total assets under management and the name of its bank.

^STI
Asia

Klevo Rewards Plans Stablecoin Trial Launch by June 30; Shares Fall 4%

Klevo Rewards (ASX:KLV) said it plans to launch a trial of its KLVAUD Australian dollar-backed stablecoin by June 30, according to a Monday filing with the Australian bourse.The company's Fly Wallet subsidiary received legal advice indicating that the stablecoin may qualify as an eligible stablecoin under the current regulatory framework, subject to conditions, per the filing.KLVAUD is planned to be fully backed one-to-one by Australian dollars held in segregated reserve accounts, and aims to support Fly Wallet's broader payments system, the company said.Klevo Rewards shares fell 4% in recent Monday trade.

ASX:KLV
Asia

Bio-Thera Solutions Gets Europe's Results on On-Site Inspection

Bio-Thera Solutions (SHA:688177) received the results of the European Union's inspection of its Yonghe manufacturing facility, according to a Shanghai bourse filing on Monday.The French National Agency for the Safety of Medicines and Health Products conducted an inspection on the site between Feb. 4 and Feb. 12.The European Medicines Agency handed a GMP or good manufacturing practice certificate to the company after the factory's drug substance operations passed regulatory standards. However, the regulator found deficiencies in the deviation management measures for the finished formulation of the drugs.

SHA:688177