Mokingran Jewellery Group Launches Up To HK$633 Million Hong Kong IPO

MT Newswires Live11-21

Mokingran Jewellery Group (HKG:2585) launched its initial public offering in Hong Kong, seeking to raise as much as HK$633 million.

The jewelry company is offering 43,956,800 H shares at HK$12.00 to HK$14.40 apiece, according to a Thursday filing.

Mokingran secured Tianjin Haitai Capital, Matrix Capital, Solid Elegance, Bright Ambition, and Swift Grace as cornerstone investors, which committed to subscribe for HK$211.9 million worth of IPO shares.

The issuer expects to determine its offer price on Nov. 27 and disclose the allocations on Nov. 28. It will then start trading on the Hong Kong bourse on Nov. 29.

Proceeds from the deal will be used to improve production capabilities at the Weifang facility, enhance sales capabilities, including 33 news stores, and improve overall operational efficiency.

CITIC Securities, ABC International, Everbright Securities, and several others are the joint bookrunners of the IPO.

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