HKC Raises Nearly 7.4 Billion Yuan in Shenzhen IPO
HKC (SHE:001399) priced its Shenzhen initial public offering at 10.12 yuan per share, raising 7.39 billion yuan through the issuance of 729.8 million shares, according to a Tuesday bourse filing.The display panel manufacturer allocated 364.9 million shares, or 50% of the offering, to strategic investors, including Hisense Visual Technology, China Mobile Investment, Sinopec Capital, and Xinhua Life Insurance.The online offering was 2,313.88 times subscribed before a clawback mechanism was triggered, resulting in 146 million shares being reallocated from the offline tranche to the online tranche.Following the reallocation, the final offline offering totaled 109.5 million shares, while the final online offering amounted to 364.9 million shares.