Lemo Services Raises HK$182 Million from Hong Kong IPO Ahead of Debut

MT Newswires Live12-03

Lemo Services (HKG:2539) raised HK$182.2 million in net proceeds from its initial public offering in Hong Kong.

The final offer price was set at HK$40.00 per share, the top of the indicative range, according to an after-market filing with the Hong Kong Stock Exchange on Tuesday.

The Chinese mechanical massage services provider offered 5.56 million shares in the global offering.

The Hong Kong public offer was 7,324.29 times oversubscribed, with a final allocation of 555,600 shares, or 10% of the total offering.

The international offering was 6.78 times subscribed, with a final allocation of 5 million shares, or 90% of the total.

Lemo Services is scheduled to debut on the Hong Kong bourse on Wednesday, Dec. 3.

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