APT Electronics Raises HK$82 Million in IPO Net Proceeds Ahead of Nov. 8 Trading Debut in Hong Kong

MT Newswires Live11-08

APT Electronics (HKG:2551) raised HK$82.3 million in net proceeds from its initial public offering ahead of its Hong Kong bourse trading debut on Friday.

The electrical products firm offered 38,640,000 shares at HK$3.61 apiece, according to an after market filing on Thursday.

The deal's Hong Kong or public offering portion was 5,677.83x oversubscribed, prompting the company to issue 19.3 million shares, following the reallocation of shares from the international offering and after the exercise of the offer size adjustment option.

The international or placing shares were 6.95x oversubscribed, and the firm issued 19.3 million shares.

APT Electronics will start trading on the Hong Kong bourse today, Nov. 8.

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