Wuhan Youji Launches Up to HK$156 Million Hong Kong IPO

MT Newswires Live06-07

Wuhan Youji Holdings (HKG:2881) launched its initial public offering in Hong Kong Friday, seeking to raise up to HK$155.6 million from the deal.

The Chinese toluene derivative products provider is offering up to 18.3 million shares expected to be priced in the range of HK$5.50 to HK$8.50 per share, according to a Friday filing with the Hong Kong bourse.

Wuhan Youji expects to determine the IPO price on June 14 and disclose allocation results on June 17. Shares will begin trading on the stock exchange on June 18.

The toluene derivative products provider intends to use the proceeds to build production facilities, fund research and development, boost sales and marketing locally and internationally, and prop up working capital.

BOCOM International Securities, ABCI Capital, CCB International Capital, CEB International Capital Corp., China Everbright Securities (HK), China Industrial Securities International Capital, CMBC Securities, Essence International Securities (Hong Kong), Fortune Origin Securities, Futu Securities International (Hong Kong), Futu Securities International (Hong Kong), Phillip Securities (Hong Kong), Quam Securities, SPDB International Capital, Yue Xiu Securities, and Zhongtai International Securities, are the joint bookrunners and lead managers of the IPO.

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