Easou Technology Raises HK$86 Million from Hong Kong IPO

MT Newswires Live06-07

Easou Technology Holdings (HKG:2550) priced its Hong Kong initial public offering to raise about HK$85.9 million in gross proceeds, according to a Thursday filing with the Hong Kong Stock Exchange.

The Chinese digital content service company sold 14.8 million shares at HK$5.80 apiece, the bottom of the offer price range of as high as HK$8, for net proceeds of HK$40.7 million.

The public portion of the offering was oversubscribed 114.6 times the 1.5 million shares on offer. As a result of the oversubscription, 469,500 shares from the international portion of the offering were reallocated to the public portion, bringing the final number of offer shares to about 2 million.

The international portion of the offering was oversubscribed 0.98 times. Following the reallocation, the company will issue about 12.9 million shares.

Shares will start trading on the stock exchange on Friday.

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