3 stories mentioning HKG:3952Updated 40d ago
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Zhejiang Laifual Drive's (HKG:3952) shares opened 3% above the offer price in a steady Hong Kong debut on Tuesday morning.The robotics component maker opened at HK$88.20 per share, compared with the IPO price of HK$85.50.
Zhejiang Laifual Drive (HKG:3952) will receive HK$1.07 billion in net proceeds from its initial public offering in Hong Kong after pricing the shares at the upper limit of the indicative range.The robotics component maker issued 13.4 million shares at HK$85.50 each, the top end of its guidance of as low as HK$77, according to a Monday disclosure.The Hong Kong public offering portion of the deal was 4,571.99 times subscribed, triggering a clawback that increased the allocation to roughly 2.69 million shares from the initial 672,100.The international offering was 7.89 times subscribed, with the final allocation reduced to 10.8 million shares from the initial 12.8 million.Cornerstone investors were allotted 5.04 million shares, representing 37.52% of the IPO shares.Laifual Drive is set to debut on the Hong Kong bourse today, June 30.
Zhejiang Laifual Drive (HKG:3952) launched its Hong Kong initial public offering on Monday, seeking to raise up to HK$1.15 billion.The Chinese robotics company is offering 13.44 million H-shares at an indicative price range of HK$77 to HK$85.50 per share, according to a Hong Kong bourse filing.The offering comprises 672,100 shares for Hong Kong investors and 12.77 million shares for international investors, subject to reallocation and the overallotment option.The offer price is expected to be determined by June 26, with allocation results due by June 29, ahead of the company's planned trading debut on June 30.Net proceeds will be used to expand the company's production and research and development capabilities, as well as its overseas sales network.The company secured ten cornerstone investors who committed to purchasing $55 million worth of IPO shares.CMB International Capital is the sole sponsor and global coordinator for the offering.
