Novosense Microelectronics Raises HK$2.1 Billion from Hong Kong IPO Ahead of Trading Debut

MT Newswires Live12-08

Suzhou Novosense Microelectronics (HKG:2676, SHA:688052) raised HK$2.10 billion in net proceeds from its initial public offering in Hong Kong.

The final offer price was set at HK$116.0 per share, according to an after-market filing with the Hong Kong Stock Exchange on Friday.

The fabless chip designer offered 19.1 million H-shares in the global offering.

The Hong Kong public offer was 25.33 times oversubscribed, with a final allocation of 1.9 million shares, or 10% of the total offering.

The international offering was 2.65 times subscribed, with a final allocation of 17.2 million shares, or 90% of the total.

An over allotment of 2.9 million shares was made under the international tranche.

Cornerstone investors, including Oriza Naxin, Golden Link, Hield International, Perseverance Asset Management, 3W Fund, Green Better, and Dream'ee HK Fund, were allotted a combined 9.4 million shares, representing 49.23% of the global offering.

Novosense is scheduled to debut on the Hong Kong bourse on Monday, Dec. 8.

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