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Luxshare Precision Industry Nets HK$24 Billion in Hong Kong IPO

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Luxshare Precision Industry (SHE:002475, HKG:2475) raised HK$24.04 billion in net proceeds from its initial public offering in Hong Kong.

The final offer price was set at HK$63.28 per H-share, according to a Wednesday after-market filing with the Hong Kong Stock Exchange.

The consumer electronics manufacturer offered 383.5 million H-shares in the global offering.

The Hong Kong public offer was 3.78 times subscribed, with a final allocation of 38.3 million shares, representing 10% of the total offering.

The international offering was 9.46 times subscribed, with a final allocation of 345.1 million shares, or 90% of the total offering.

An over-allocation of 57.5 million shares was made under the global offering.

Cornerstone investors, including Taibai Investments, HHLR Advisors, GIC Private, CPE Neem Investment, Greenwoods Asset Management Hong Kong, Abu Dhabi Investment Authority, and others, were allotted a combined 185.7 million shares, representing 48.44% of the global offering, according to the filing.

Luxshare Precision is scheduled to debut on the Hong Kong bourse on Thursday, July 9.

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