SHE:300568

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Shenzhen Senior Technology Material Nets HK$1.3 Billion in Hong Kong IPO Ahead of Debut

Shenzhen Senior Technology Material (HKG:6067, SHE:300568) raised HK$1.28 billion in net proceeds from its initial public offering in Hong Kong, according to a Monday after-market filing with the Hong Kong Exchange.The manufacturer of lithium-ion battery separators priced its IPO at HK$8.98 per share, issuing 149.5 million shares in total.The Hong Kong public offering portion of the deal was 1,563.16 times subscribed, with a final allotment of 14.9 million shares.The international offering was 14.34 times subscribed, with 134.6 million shares allocated.Cornerstone investors received 67.5 million shares, representing 45.14% of the IPO shares.Senior Technology Material is set to debut on the Hong Kong bourse today, June 23.

HKG:6067SHE:300568

Asia3h ago

Shenzhen Senior Technology Material Jumps 38% in Hong Kong Trading Debut

Shenzhen Senior Technology Material (HKG:6067, SHE:300568) shares opened 38.4% above their initial public offering price in a strong Hong Kong debut on Tuesday morning.The manufacturer of lithium-ion battery separators opened at HK$12.43 per share, compared with the IPO price of HK$8.98.

HKG:6067SHE:300568

Asia11d ago

Shenzhen Senior Technology Material Launches HK$1.3 Billion Hong Kong IPO

Shenzhen Senior Technology Material (SHE:300568, HKG:6067) launched its Hong Kong initial public offering on Friday, seeking to raise up to HK$1.34 billion.The Chinese lithium-ion battery separator manufacturer is offering 149.5 million H shares at an indicative maximum price of HK$8.98 per share, according to a Hong Kong bourse filing.The offering comprises 15 million shares for Hong Kong investors and 134.6 million shares for international investors, with the latter subject to reallocation.The final offer price is expected to be determined by June 18, with allocation results due by June 22, ahead of the company's planned trading debut on June 23.Net proceeds will be used primarily to strengthen research and development capabilities in solid-state electrolyte membranes, other functional membranes, and next-generation lithium-ion battery separator products.The company also plans to use the funds to expand its overseas network in Malaysia and the U.S., invest in battery separator materials and semiconductor-related businesses, repay a loan for its manufacturing base in Sweden, and boost working capital.The company secured 13 cornerstone investors, including NYSE-listed JinkoSolar and Sunwoda Electronic (SHE:300207), that committed to subscribe to $77.5 million worth of IPO shares.China Securities (International) Corporate Finance, Huatai Financial Holdings (Hong Kong), CICC Hong Kong Securities, ICBC International Securities and Vast Harbour Securities are the joint global coordinators, joint bookrunners and joint lead managers of the IPO.

HKG:6067SHE:300568

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