3 stories mentioning HKG:6658Updated 19d ago
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Liuliumei's (HKG:6658) shares opened 118% above their initial public offering price in a stellar Hong Kong debut on Monday morning.The China-based fruit snack company, focused on plum-based products, opened at HK$95.00 per share, well above the offer price of HK$43.58.
Liuliumei (HKG:6658) raised HK$440.1 million in net proceeds from its initial public offering in Hong Kong.The final offer price was set at HK$43.58 per H-share, according to a Friday after-market filing with the Hong Kong Stock Exchange.The China-based fruit snack company, focused on plum-based products, offered 11.5 million H-shares in the global offering.The Hong Kong public offer was 6,586.73 times subscribed, with a final allocation of 1.1 million shares.The international offering was 2.64 times subscribed, with a final allocation of 10.3 million shares.Cornerstone investors Fanchang Revitalization and Top New were allotted a combined 3.4 million shares, representing 29.55% of the global offering, according to the filing.Liuliumei is scheduled to debut on the Hong Kong bourse on Monday, June 15.
Liuliumei (HKG:6658) launched its Hong Kong initial public offering on Friday, seeking to raise about HK$499.6 million.The China-based fruit snack company, focused on plum-based products, is offering 11.5 million H shares at HK$43.58 apiece, according to a Hong Kong bourse filing.The offering comprises 1.1 million shares for Hong Kong investors and 10.3 million shares for international investors, subject to reallocation and the over-allotment option.The offer price is expected to be determined by June 12, with allocation results due the same day, ahead of the company's planned trading debut on June 15.Net proceeds will mainly be used to expand production capacity, including new manufacturing, warehousing, and logistics facilities, as Liuliumei looks to meet growing demand for its plum-based products.The company also plans to use the funds to strengthen brand marketing, expand its sales network and overseas presence, enhance R&D capabilities and product innovation, and for working capital and general corporate purposes.CITIC Securities (Hong Kong) and Guoyuan Capital (Hong Kong) are acting as joint sponsors.CLSA and Guoyuan Securities Brokerage (Hong Kong) are serving as sponsor-overall coordinators and overall coordinators, while also acting as joint global coordinators, joint bookrunners, and joint lead managers.Zhongtai International Securities, Soochow Securities International Brokerage, CEB International Capital, Huafu International Securities, and Orient Securities (Hong Kong) are acting as joint bookrunners and joint lead managers.
