Guangdong Tianyu Semiconductor (HKG:2658) raised HK$1.67 billion in net proceeds from its initial public offering in Hong Kong.
The final offer price was set at HK$58 per share, according to an after-market filing with the Hong Kong Stock Exchange on Thursday.
The silicon carbide epitaxial wafer manufacturer offered 30.1 million H-shares in the global offering.
The Hong Kong public offer was 60.63 times oversubscribed, with a final allocation of 3 million shares, or 10% of the total offering.
The international offering was 2.47 times subscribed, with a final allocation of 27.1 million shares, or 90% of the total.
Cornerstone investors, Guangdong Primitive Forest Fund Management, GF Global Capital, and Glory Ocean Innovation, were allotted a combined 2.8 million shares, representing 4.72% of the global offering.
Tianyu Semiconductor is scheduled to debut on the Hong Kong bourse on Friday, Dec. 5.
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