Jiangxi Rimag Group Raises HK$183.5 Million in Hong Kong IPO

MT Newswires Live06-07

Jiangxi Rimag Group (HKG:2522) priced its Hong Kong initial public offering to raise HK$183.5 in net proceeds from the offering, according to a late Thursday evening filing with the Hong Kong Stock Exchange.

The Chinese medical imaging company sold 17.8 million shares at HK$14.98, near the bottom of the offer price range of HK$14.60 to HK$16.80.

The public portion of the offering was oversubscribed 336.33 times the 1.8 million shares on offer. As a result of the oversubscription, 7.1 million shares from the international portion of the offering were reallocated to the public portion, bringing the final number of offer shares to 8.9 million.

The international portion of the offering was oversubscribed 1.24 times. Following the reallocation, the company will issue about 8.9 million shares.

Shares will begin trading on the stock exchange on June 7.

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