Longcheer Technology (9611) Announces HK$31.00 Final Offer Price and Allotment Results

Bulletin Express01-21 22:43

Shanghai Longcheer Technology Co., Ltd. (stock code: 9611) has announced a final offer price of HK$31.00 per H Share in its global offering. A total of 52,259,100 H Shares are being offered, with 5,226,000 H Shares allocated under the Hong Kong Public Offering and 47,033,100 H Shares for the International Offering (including an Employee Preferential Offering). The Over-allotment Option may increase the total offer size.

According to the announcement, the Hong Kong Public Offering was oversubscribed approximately 1,149.76 times. Final allocations for the public tranche remain at 5,226,000 H Shares, representing 10% of the global offering. The International Offering was oversubscribed approximately 9.02 times, with 47,033,100 H Shares initially offered, of which 3,339,500 were Employee Reserved Shares. Cornerstone investors include Qualcomm Ventures LLC, Jiangxi Guokong, WILL Semiconductor, Hong Kong Yuto, Qingdao Guanlan, and Endless Growth, among others.

Based on the final offer price, expected gross proceeds amount to HK$1,620.0 million, and net proceeds are estimated at HK$1,519.9 million after expenses. The company notes that its H Shares will begin trading on the Stock Exchange of Hong Kong Limited on January 22, 2026. Shares will be traded in board lots of 100, under the stock code 9611.

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