Laopu Gold Raises HK$827 Million in Hong Kong IPO

MT Newswires Live06-28

Laopu Gold (HKG:6181) raised HK$826.6 million in net proceeds from its Hong Kong initial public offering after pricing the shares at HK$40.50.

The jewelry producer offered about 22,368,900 shares at HK$40.50 apiece, according to a Thursday filing.

The deal's Hong Kong or public offering portion was 582.15 times oversubscribed, prompting the company to reallocate shares from the international offering. The public offering increased to 11,184,500 shares.

The international or placing shares were 11.90 times oversubscribed, and the firm issued 11,184,400 shares. With the over-allocation and exercise of the offer size adjustment option, 14,539,700 shares were issued.

If the overallotment option is exercised in full, the company will raise about HK$135.9 million more in gross proceeds from the IPO.

The company will commence trading on Friday.

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