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TEMB's Retail Portion of Shanghai IPO Oversubscribed More Than 11,000 Times

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TEMB (SHA:603448) saw the retail portion of its Shanghai Stock Exchange listing oversubscribed 11,368.5 times, according to a Shanghai bourse filing on Friday.

The retail offering drew 16.1 million valid online subscription orders, applying for 109.1 billion shares out of the 9.6 million shares allocated in the online portion.

The Chinese automotive thermal management components manufacturer sold 30 million shares, representing 25% of post-offering equity, at 62.65 yuan apiece, raising about 1.88 billion yuan in gross proceeds.

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