CiDi Nets HK$1.3 Billion from Hong Kong IPO Ahead of Debut

MT Newswires Live06:08

CiDi (HKG:3881) raised HK$1.31 billion in net proceeds from its initial public offering in Hong Kong.

The final offer price was set at HK$263 per share, according to a Thursday after-market filing with the Hong Kong Stock Exchange.

The intelligent driving products provider to commercial vehicles in China company offered 5.41 million H-shares in the global offering.

The Hong Kong public offer was 22.55 times oversubscribed, with a final allocation of 540,800 shares, or 10% of the total offering, following a clawback from the international tranche.

The international offering was 2.1 times subscribed, with a final allocation of 4.87 million shares, or 90% of the total offering.

An over allotment of 540,800 shares was made under the international tranche.

Cornerstone investors, including Hunan Xiangjiang Zhicheng Industrial Investment Fund Partnership, Nanning Zhijia No. 1 Ruiyue Equity Investment Partnership, ICBC UBS Asset Management, ICBC UBS Asset Management (International), and Qianhai Kaiyuan Qunwei QDII Single Asset Management Plan, were allotted a combined 2.08 million shares, representing 38.39% of the offer shares, according to the filing.

CiDi is scheduled to debut on the Hong Kong bourse on Friday, Dec. 19.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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