On June 12, Metax Integrated Circuits (Shanghai) Co., Ltd. (SH: 688802) convened its 25th meeting of the first board of directors, approving relevant proposals including the proposal for the company's initial public offering of H-shares and listing on the main board of The Stock Exchange of Hong Kong Limited. To meet the needs of business development, further enhance governance standards and core competitiveness, and advance its global strategy, the company intends to issue overseas listed foreign shares (H-shares) and apply for a listing on the main board of the Hong Kong Stock Exchange.
The initial issuance scale for this offering and listing is proposed to be H-shares not exceeding 5% of the company's total enlarged share capital immediately after the issuance (before any exercise of the over-allotment option), with an over-allotment option granted to the overall coordinator/global coordinator not exceeding 15% of the initial H-share issuance size. The final number and proportion of H-shares to be issued for the listing (including whether the over-allotment option is exercised) will be determined by the company's board of directors based on the actual issuance circumstances in compliance with relevant laws and regulatory requirements.
The net proceeds from this offering, after deducting issuance expenses, are intended to be used for purposes including, but not limited to, the research, development, and commercialization of next-generation general-purpose GPU products, MXMACA software ecosystem development, industrial chain investment and mergers & acquisitions, marketing and sales system construction, supplementing working capital required for daily operations, and other general corporate purposes. The final usage plan will be determined by the board of directors or its authorized persons, as authorized by the shareholders' meeting, in accordance with legal provisions, regulatory approvals (including but not limited to from the CSRC, the Hong Kong Stock Exchange, and/or the SFC), and the company's current and future funding needs.
The company stated that it will fully consider the interests of existing shareholders and the conditions of domestic and international capital markets, aiming to complete this issuance and listing at an opportune time within the validity period of the shareholders' meeting resolution (i.e., 24 months from the date of approval by the company's shareholders' meeting) or any other period extended with shareholder consent.
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