ABLE DIGITAL (02687) concluded its IPO subscription period from November 28 to December 3 at noon and is expected to list on December 8. Market data shows that as of 10:00 AM on Wednesday (December 3), the margin financing subscription reached HK$191.2 billion, oversubscribing the public offering of HK$50.74 million by 3,767.5 times.
Under the issuance plan, ABLE DIGITAL plans to offer 6.667 million H shares in Hong Kong, with 10% allocated for public subscription. The price range is set at HK$62.26–HK$76.10 per share, aiming to raise up to HK$510 million. Each lot consists of 100 shares, with an entry cost of approximately HK$7,686.8.
Proceeds will be allocated as follows: 36.7% for R&D, 31.8% for enhancing customer service and support capabilities, 21.5% for establishing one or two knowledge graph development centers in selected cities to improve efficiency in knowledge graph construction and delivery, and 10% for working capital and general corporate purposes.
According to its prospectus, ABLE DIGITAL is a Chinese provider of digital teaching solutions for higher education institutions, specializing in the development, delivery, and operation of digital educational content and teaching scenario services. Its offerings cover all key aspects of teaching, learning, practice, assessment, evaluation, and management.
Frost & Sullivan data shows that in 2023, ABLE DIGITAL ranked second in revenue among China’s higher education digital teaching market players, holding a 3.4% market share. It also led the digital content production segment with a 6.2% share.
From 2022 to 2024, ABLE DIGITAL reported revenues of approximately RMB400 million, RMB653 million, and RMB848 million, respectively. Net profits during the same period were RMB-59.11 million, RMB81.421 million, and around RMB105 million.
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