Zhongmiao Holdings' Public Offering's Stabilization Period Ends, Over-Allotment Option Lapses

MT Newswires Live09-06

Zhongmiao Holdings' (Qingdao) (HKG:1471) Hong Kong Public Offering's stabilization period ended on Aug. 31, after finishing its 30-day period after lodging its application for the offering, a Thursday filing with the Hong Kong Exchange said.

No over-allocation occurred in the international offering and hence the stabilizing manager didn't have to carry out any stabilizing action during the period.

Correspondingly, the overall coordinators did not exercise the over-allotment option during the period as well, lapsing the over-allotment option on Saturday, Aug. 31.

The insurance agency service provider had launched its initial public offering in Hong Kong a little over a month ago, seeking to raise as much as HK$360.1 million. The company issued 35.3 million shares at HK$7.0 apiece, the bottom end of its guidance of as high as HK$10.2 each in its IPO.

The number of shares held by public after the stabilization period amounted to at least 25% of the total registered share capital of the company, satisfying the public float requirements.

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