HKG:0068

6 stories mentioning HKG:0068

Every FINWIRES story that references HKG:0068, newest first.

Manycore Tech IPO Stabilization Period Ends

Manycore Tech (HKG:0068) said the stabilization period of its initial public offering ended on Thursday, May 14, according to a Monday filing with the Hong Kong bourse.Shares of the Chinese cloud-native spatial design software provider gained nearly 2% in morning trade on Tuesday.During the period, the IPO's underwriters fully exercised the listing's overallotment option for 24.1 million shares at HK$7.62 apiece.The overallotment option was exercised after the same number of shares were over-allocated in the international portion of the IPO.The number of shares held by the public after the exercise of the overallotment option complied with Hong Kong's listing requirements, the firm said.

HKG:0068

Asia42d ago

Manycore Tech Enters Cooperation Framework Agreement With Goldstream

Manycore Tech (HKG:0068) is exploring a partnership with Goldstream Investment (HKG:1328) on global business expansion, the establishment of a venture capital fund, and capital markets cooperation, according to a Sunday filing with the Hong Kong bourse.The China-based cloud-native spatial design software provider's shares gained over 15% in late morning trade Monday.The partnership would involve leveraging resources in global furniture supply chains and the consumer industry to expand Manycore Tech's global business expansion and overseas customer acquisition capabilities.Meanwhile, the proposed venture capital will focus on investing in early- to growth-stage projects related to spatial intelligence and AI-related technologies.The framework is subject to definitive agreements, Manycore said.

HKG:0068HKG:1328

Asia59d ago

Hong Kong Stocks Retreat Ahead of Key US-Iran Talks; Gpixel, Manycore Surge on Debut

Hong Kong stocks pulled back Friday as investors remained cautious ahead of a pivotal weekend that could shape the near-term outlook for the Middle East conflict.The Hang Seng Index fell 233.93 points, or 0.9%, to close at 26,160.33, while the Hang Seng China Enterprises Index dropped 60.09 points, or 0.7%, to 8,845.02.U.S. President Donald Trump said a deal to end the Iran conflict appeared increasingly likely, and that talks between Washington and Tehran could resume over the weekend.He added that a two-week ceasefire could be extended, though it may not be necessary as Iran was seeking a deal.Elsewhere, Israel and Lebanon agreed to start a 10-day ceasefire after talks facilitated by Washington earlier in the week.In corporate news, two companies made their debut on the Hong Kong bourse.Gpixel Changchun Microelectronics (HKG:3277) closed nearly 76% higher at HK$70, compared with the initial public offering price of HK$39.88.Manycore Tech (HKG:0068) advanced 144% to end at HK$18.60, versus the IPO price of HK$7.62.

Hang SengHKG:0068HKG:3277

Asia59d ago

Manycore Tech Soars 172% in Hong Kong Trading Debut

Manycore Tech's (HKG:0068) shares opened 171.7% above their initial public offering price in a stellar Hong Kong debut on Friday morning.The China-based cloud-native spatial design software provider opened at HK$20.70 per share, well above the offer price of HK$7.62.

HKG:0068

Asia59d ago

Manycore Tech Raises HK$1.1 Billion From Hong Kong IPO Ahead of Debut

Manycore Tech (HKG:0068) raised HK$1.09 billion in net proceeds from its initial public offering in Hong Kong.The final offer price was set at HK$7.62 per share, the top end of the offer price range, according to a Thursday after-market filing with the Hong Kong Stock Exchange.The China-based cloud-native spatial design software provider offered 160.6 million shares in the global offering.The Hong Kong public offer was 1,590.56 times subscribed, with a final allocation of 16.1 million shares, representing 10% of the total offering.The international offering was 14.46 times subscribed, with a final allocation of 144.6 million shares, or 90% of the total offering.An over-allocation of 24.1 million shares was made under the global offering.Cornerstone investors, including Taikang Life Insurance, Sunshine Life Insurance, GF Fund Management, Redwood Elite, Mirae Asset Securities, and others, were allotted a combined 59.6 million shares, according to the filing.Manycore Tech is scheduled to debut on the Hong Kong bourse on Friday, April 17.

HKG:0068

Asia Markets67d ago

Hong Kong Stocks Fall As US-Iran Ceasefire On Thin Ice; Two Firms File For IPO

Hong Kong stocks closed lower Thursday as optimism over the Middle East ceasefire faded and signs emerged that the temporary truce between the U.S. and Iran was fraying.The Hang Seng Index fell by around 140.62 points, or roughly 0.5%, to end at 25,752.40, while the Hang Seng China Enterprises Index decreased by 65.48 points, or around 0.8%, to close at 8,611.83.Iran accused Israel of violating the ceasefire agreement Tehran reached with the U.S. earlier this week after Tel Aviv bombed targets in the southern suburbs of Beirut, southern Lebanon and the eastern Bekaa Valley. Israel said the air strikes hit more than 100 Hezbollah command centers and military sites in 10 minutes.U.S. Vice President JD Vance is set to lead a delegation to Islamabad to formalize a peace deal with Iran. The country's parliament speaker Mohammed Bager Qalibaf said a bilateral ceasefire or negotiations were "unreasonable" amid Israeli hostilities.Meanwhile, Hong Kong's private sector firms saw a renewed deterioration in operating conditions in March amid declines in output and total new business, S&P Global said in a monthly report.The reduction came following a historically strong five-month expansion period. Panelists said the Middle East conflict lowered sales amid a dampened consumer confidence and spending, as well as stock market performance.In corporate news, two firms filed to go public in Hong Kong.Chinese cloud-native spatial design software provider Manycore Tech (HKG:0068) is looking to raise up to HK$1.22 billion via the sale of 160.6 million shares at an indicative price range of HK$6.72 to HK$7.62 per share.Net proceeds will be used mainly to support international expansion, including building global sales teams and strengthening marketing across key overseas markets.Meanwhile, Gpixel Changchun Microelectronics (HKG:3277) is seeking to raise about HK$2.60 billion via the sale of offering 65.3 million H-shares at an indicative price of HK$39.88 per share.Net proceeds will be used primarily to fund research and development, including investments in next-generation CMOS image sensor technologies.

Hang SengHKG:0068HKG:3277