3 stories mentioning HKG:3231Updated just now
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Excelland Robotics' (HKG:3231) shares opened 142% above the offer price in a stellar Hong Kong debut on Wednesday morning.The delivery robot maker opened at HK$35 per share, compared with the IPO price of HK$14.45.
Excelland Robotics (Wuxi) (HKG:3231) is set to receive HK$576.6 million in net proceeds from its initial public offering in Hong Kong after pricing the shares below its maximum target.The delivery robot maker priced 45 million H-shares at HK$14.45 apiece, the lower end of its price band of up to HK$19.55 each, according to a Tuesday bourse disclosure.The Hong Kong public offering was subscribed 140.02 times, with 2.78 million shares allocated, while the international offering was subscribed 0.99 times, with 42.2 million shares allocated.Cornerstone investors SensePower and CYGG Holding were allocated 1.1 million and 544,800 shares, representing 2.42% and 1.21% of the IPO shares, respectively.Excelland is set to debut on the Hong Kong bourse on Wednesday, Sept. 9.
Excelland Robotics (HKG:3231) launched its Hong Kong initial public offering on Monday, seeking to raise up to HK$879.8 million.The China-based robotics company is offering 45 million H-shares at between HK$14.45 and HK$19.55 each, according to a Hong Kong bourse filing.The offering comprises 2.3 million shares for Hong Kong investors and 42.8 million shares for international investors, subject to reallocation.The final offer price is expected to be determined by Sept. 7, with allocation results due by Sept. 8, ahead of the company's planned trading debut on Sept. 9.The IPO has two cornerstone investors, SensePower and CYGG, who have committed to subscribe for $3 million worth of shares.Deal proceeds will be used mainly to advance R&D, expand the R&D team, and enhance core technologies for indoor and outdoor delivery and cleaning robots.The company also plans to fund business expansion and strategic acquisitions, strengthen sales and marketing capabilities, repay part of its bank loans, and support working capital and general corporate purposes.Silver Nile Global Investments is serving as the sole sponsor and overall sponsor coordinator.Silver Nile Global Investments, CEB International Capital, and CMBC Securities are acting as overall coordinators, while SDIC Securities, Harmonia Capital, and others are among the joint global coordinators.
