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HKG:1879

7 stories mentioning HKG:1879

Every FINWIRES story that references HKG:1879, newest first.

Asia

Shanghai Xizhi Technology Denies Allegations Against Director

Shanghai Xizhi Technology (HKG:1879) denied market rumors "containing groundless allegations" against its director's conduct and operational information, according to a Friday filing with the Hong Kong bourse.The optoelectronic computing company said it reported the incident to local law agencies and reserves the right to initiate legal proceedings.The clarification follows an earlier announcement in which the firm noted "unusual movements" in the trading price of its H shares and said there was no undisclosed information that would explain those movements.

HKG:1879
Asia

Shanghai Xizhi Technology Nets HK$364 Million From Full Exercise of Hong Kong IPO Over-Allotment Option

Shanghai Xizhi Technology (HKG:1879) said the overallotment option of its Hong Kong initial public offering was fully exercised on Monday, according to a same-day Hong Kong bourse filing.The optoelectronic computing company expects to receive additional net proceeds of about HK$363.9 million.The exercise involved the issue of 2.1 million additional shares at HK$183.20 each, representing about 15% of the total offer shares available under the global offering.Dealings in the over-allotment shares are expected to begin on May 14, the filing said.

HKG:1879
Asia

Hong Kong Stocks Extend Losses as US-Iran Standoff Persists; Xizhi, Mabwell Shine on Debut

Hong Kong stocks extended losses on Tuesday as elevated oil prices and persistent tensions in the Middle East kept inflation concerns in focus.The Hang Seng Index fell 245.87 points, or 1.0%, to close at 25,679.78, while the Hang Seng China Enterprises Index lost 111.51 points, or 1.3%, to 8,644.81.An U.S. official said President Donald Trump was dissatisfied with Iran's latest proposal to resolve the two-month conflict.The proposal would defer discussion of Iran's nuclear program until the conflict ends and shipping disputes in the Gulf are addressed, according to a Reuters report.The impasse has left the conflict at a standstill, with flows through the Strait of Hormuz still largely disrupted, keeping oil prices above $100 a barrel.Meanwhile, the U.S. Federal Reserve is widely expected to keep interest rates unchanged at the conclusion of its two-day meeting on Wednesday.In corporate news, two firms made their debut on the Hong Kong bourse.Shanghai Xizhi Technology (HKG:1879) closed nearly 389% higher at HK$895 compared with the offer price of HK$183.20.Mabwell (Shanghai) Bioscience (HKG:2493, SHA:688062) gained nearly 1% to close at HK$27.80, versus its offer price of HK$27.64.

Hang SengHKG:1879HKG:2493SHA:688062
Asia

Shanghai Xizhi Technology Soars 380% in Hong Kong Trading Debut

Shanghai Xizhi Technology's (HKG:1879) shares opened 380.3% above their initial public offering price in a stellar Hong Kong debut on Tuesday morning.The China-based optoelectronic computing company opened at HK$880 per share, well above the offer price of HK$183.20.

HKG:1879
Asia

Xizhi Technology Raises HK$2.4 Billion From Hong Kong IPO Ahead of Debut

Shanghai Xizhi Technology (HKG:1879) raised HK$2.38 billion in net proceeds from its initial public offering in Hong Kong.The final offer price was set at HK$183.20 per H-share, the top of the offer price range, according to a Monday after-market filing with the Hong Kong Stock Exchange.The China-based optoelectronic computing company offered 13.8 million H-shares in the global offering.The Hong Kong public offer was 5,784.70 times subscribed, with a final allocation of 2.8 million shares, representing 20% of the total offering.The international offering was 53.83 times subscribed, with a final allocation of 11 million shares, or 80% of the total offering.An over-allocation of 2.1 million shares was made under the global offering.Cornerstone investors, including Alibaba Investment, GIC, Baillie Gifford, BlackRock, Fidelity International, Schroders, Temasek, and CM Shanghai Fund, were allotted a combined 9 million shares, according to the filing.Xizhi Tech is scheduled to debut on the Hong Kong bourse on Tuesday, April 28.

HKG:1879
Asia

Hong Kong Stocks Start Week in Green; Xizhi Technology, Mabwell Launch IPOs

Hong Kong stocks finished higher Monday as investors remained cautiously optimistic over the prospect of a diplomatic breakthrough between Iran and the U.S.The Hang Seng Index rose by 200.74 points, or roughly 0.8%, to end at 26,361.07, while the Hang Seng China Enterprises Index increased by 54.04 points, or around 0.6%, to close at 8,899.06.Tensions brewed after a US Navy destroyer, USS Spruance, intercepted an Iranian-flagged cargo vessel called Touska near the Strait of Hormuz and Iran issued a warning to the US.Despite an announcement from Iran that it had again closed the strait, 20 ships had transited from the narrow passage on Saturday, Reuters reported, citing Kpler data.The ongoing conflict in the Middle East is helping Hong Kong reassert itself as a haven in global finance, thanks to its geographical location and support from China's economic strength, the South China Morning Post said in a report.According to the paper, banks had turned to the city to protect their business, while global investors had inquired about adding allocations of mainland Chinese assets to their portfolio.In corporate news, two mainland Chinese firms filed to go public in Hong Kong.Shanghai Xizhi Technology (HKG:1879) is looking to raise up to HK$2.53 billion via the sale of 13.8 million shares at a maximum price of HK$183.20 each. The optoelectronic computing company will use the proceeds to advance research and development.Meanwhile, Mabwell (Shanghai) Bioscience (HKG:2493, SHA:688062) is seeking about HK$1.45 billion via the sale of 47.1 million H-shares for up to HK$30.71 per share.Net proceeds will be used primarily to advance clinical trials of the pharmaceutical company's core product, 9MW2821, across multiple indications, including urothelial carcinoma, triple-negative breast cancer, and cervical cancer.

Hang SengHKG:1879HKG:2493SHA:688062
Asia

Shanghai Xizhi Technology Launches Up to HK$2.5 Billion Hong Kong IPO

Shanghai Xizhi Technology (HKG:1879) launched its Hong Kong initial public offering on Monday, seeking to raise up to about HK$2.53 billion from the deal.The China-based optoelectronic computing company is offering 13.8 million H-shares at a maximum price of HK$183.20 per share, according to a Hong Kong bourse filing.The offering comprises 689,775 shares for Hong Kong investors and 13.1 million shares for international investors, subject to reallocation and the overallotment option.The offer price is expected to be determined by April 24, with allocation results due by April 27, ahead of the company's planned trading debut on April 28.Net proceeds will be used mainly to fund research and development, including optical interconnect hardware and optical computing products.The funds will also support commercialization efforts, including expanding product development and sales teams, as well as working capital and general corporate purposes.China International Capital Corporation Hong Kong Securities, and Haitong International Capital are acting as joint sponsors.China International Capital Corporation Hong Kong Securities, Haitong International Securities, and The Hongkong and Shanghai Banking Corporation are acting as joint bookrunners and joint lead managers, along with Futu Securities International (Hong Kong) and Shenwan Hongyuan Securities (H.K.).

HKG:1879