3 stories mentioning HKG:6675Updated 12m ago
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SENASIC Electronics Technology's (HKG:6675) shares opened 72% above their initial public offering price in a stellar Hong Kong debut on Wednesday morning.The Chinese wireless sensor system-on-chip provider opened at HK$31.60 per share, well above the offer price of HK$18.36.
SENASIC Electronics Technology (HKG:6675) raised HK$912.5 million in net proceeds from its initial public offering in Hong Kong, according to a Tuesday after-market filing with the Hong Kong Exchange.The Chinese wireless sensor system-on-chip provider priced its IPO at HK$18.36 per share, issuing 53.4 million shares in total.The Hong Kong public offering portion of the deal was 5,144.97 times subscribed, with a final allocation of 5.34 million shares.The international offering was 4.44 times subscribed, with 48.07 million shares allocated.Cornerstone investors received 15.4 million shares, representing 28.86% of the IPO shares.SENASIC Electronics is set to debut on the Hong Kong bourse today, June 17.
Senasic Electronics (HKG:6675) launched its Hong Kong initial public offering on Tuesday, seeking to raise about HK$980.6 million from the deal.The China-based wireless sensor system-on-chip provider is offering 53.4 million H shares at HK$18.36 apiece, according to a Hong Kong bourse filing.The offering comprises 5.3 million shares for Hong Kong investors and 48.1 million shares for international investors, subject to reallocation and the overallotment option.The offer price and allocation results are expected to be announced on June 16, ahead of the company's planned trading debut on June 17.Net proceeds will be used primarily to expand Senasic Electronics' business scale and accelerate commercialization of new products, as well as to strengthen R&D capabilities in intelligent tire sensing, battery management system and user-side interface system-on-chip technologies.The company also plans to use the funds to expand its domestic and international sales network, pursue strategic investments or acquisitions, and for working capital and general corporate purposes.China International Capital Corporation Hong Kong Securities and Guotai Junan Capital are acting as joint sponsors.China International Capital Corporation Hong Kong Securities, Guotai Junan Securities (Hong Kong), GF Securities (Hong Kong) and Daiwa Capital Markets Hong Kong are acting as joint global coordinators, joint bookrunners and joint lead managers.ABCI Capital, Futu Securities International (Hong Kong), Tiger Brokers (HK) Global, SPDB International Capital, CMBC Securities and Shanxi Securities International are also serving as joint bookrunners and joint lead managers.
