Six Hong Kong IPOs launch, targeting over HK$6bn in total fundraising
Six companies began bookbuilding on 30 October, aiming to raise over HK$6 billion combined. The largest offering is from Denglin Technology, a GPGPU supplier, seeking up to HK$1.76 billion.
Six companies launched their initial public offerings (IPOs) in Hong Kong on 30 October, aiming to raise a combined over HK$6 billion (US$773 million). The offerings include a range of sectors from semiconductors to pharmaceuticals.
The largest deal is from Denglin Technology, a supplier of general-purpose graphics processing units (GPGPUs). It plans to issue 6.125 million H shares globally, with 5 per cent for the Hong Kong public and 95 per cent for international placement. The indicative price range is HK$231 to HK$288 per share, targeting a maximum raise of nearly HK$1.76 billion. Each board lot is 25 shares, with a minimum application amount of about HK$7,273. Subscription closes on 5 November, and trading is set to begin on 10 November under stock code 9917.
Memory chip maker Macrochip Electronics plans to issue 14.717 million H shares, with 10 per cent for Hong Kong public offering and 90 per cent for international placement. The price range is HK$72.29 to HK$82.9, aiming for up to HK$1.22 billion. Each board lot is 100 shares, with a minimum application amount of about HK$8,373.6. Subscription ends on 9 November, and trading starts on 12 November under stock code 2681.
Integrated energy storage solution provider Yuanxin Energy Storage plans to issue about 57.54 million H shares, with 10 per cent for Hong Kong public offering. The price range is HK$8.54 to HK$11.1, targeting up to nearly HK$640 million. Each board lot is 500 shares, with a minimum application of about HK$5,606. Subscription closes on 5 November, and trading begins on 9 November under stock code 9621.
Semiconductor packaging and testing service provider Xinde Semiconductor plans to issue nearly 107 million H shares, with 10 per cent for Hong Kong public offering. The price range is HK$8.6 to HK$9.6, aiming for up to about HK$1.02 billion. Each board lot is 500 shares, with a minimum application of about HK$4,848. Subscription closes on 5 November, and trading starts on 10 November under stock code 7672.
Biopharmaceutical company Hemei Pharmaceutical plans to issue 55.21 million H shares, with 10 per cent for Hong Kong public offering. The price range is HK$15.5 to HK$18.9, targeting up to about HK$1.04 billion. Each board lot is 100 shares, with a minimum application of about HK$1,909. Subscription closes on 5 November, and trading begins on 9 November under stock code 54.
Chinese herbal medicine product supplier Xinhehua plans to issue 6.517 million H shares, with 10 per cent for Hong Kong public offering. The price range is HK$40.2 to HK$50.55, aiming for up to nearly HK$330 million. Each board lot is 50 shares, with a minimum application of about HK$2,553. Subscription closes on 6 November, and trading starts on 11 November under stock code 2206.