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Shenzhen SDMC Technology Nets HK$570 Million in Hong Kong IPO Ahead of Debut

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Shenzhen SDMC Technology (HKG:0901) raised HK$570 million in net proceeds from its initial public offering in Hong Kong.

The offer price was set at HK$32.80 per H-share, according to a Wednesday filing with the Hong Kong Stock Exchange.

The Chinese smart home products provider offered 19.2 million H-shares in the global offering.

The Hong Kong public offer was 1,971.99 times subscribed, with a final allocation of 1.9 million shares, representing 10% of the total offering.

The international offering was 2.23 times subscribed, with a final allocation of 17.3 million shares, or 90% of the total offering.

Shenzhen SDMC Technology is set to debut on the Hong Kong bourse on Wednesday, May 27.

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