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Lingyi iTech Nets HK$8.15 Billion in Hong Kong IPO Ahead of Debut

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Lingyi iTech (Guangdong) (HKG:1688) raised HK$8.15 billion in net proceeds from its initial public offering in Hong Kong, according to a Thursday after-market filing with the Hong Kong Exchange.

The high-precision intelligent manufacturing platform priced its IPO at HK$10.18 per share, issuing 811.8 million shares.

The Hong Kong public offering portion of the deal was 96.16 times subscribed, with a final allocation of 81.2 million shares.

The international offering was 10.27 times subscribed, with 730.6 million shares allocated.

Cornerstone investors were allotted 313.2 million shares, accounting for 38.59% of the IPO shares.

Lingyi iTech is set to debut on the Hong Kong bourse today, June 26.

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