Zhonggan Communication Launches Up to HK$200 Million Hong Kong IPO

MT Newswires Live06-21

Zhonggan Communication (Group) Holdings (HKG:2545) launched its initial public offering in Hong Kong, seeking to raise up to HK$200 million, according to a prospectus filed on Friday with the Hong Kong bourse.

The telecommunications services provider is offering 160 million shares, expected to be priced in the range of HK$1.13 to HK$1.25 apiece.

The issuer expects to determine the offer price on June 28 and disclose the allocations on July 2. It will then start trading on the Hong Kong bourse on July 3, according to the filing.

The proceeds from the IPO will be used for acquisitions, upfront payments of prospective Integrated solution services projects for 2024, and bolster the companyâs research and development capabilities.

BOCOM International, ZTSC, CCB International, and several others are the joint bookrunners of the IPO.

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