USAS Building System Raises HK$174.6 Million from Hong Kong IPO Ahead of Debut

MT Newswires Live2025-12-30

USAS Building System (HKG:2671) raised HK$174.6 million in gross proceeds from its Hong Kong initial public offering after pricing the shares at the bottom of the indicative price range.

The integrated prefabricated steel structure building subcontracting service provider issued 24.6 million shares at HK$7.10 apiece, the bottom end of its guidance of as high as HK$9.16 each, according to a Monday disclosure.

The Hong Kong or public offering portion of the deal was 146.25 times oversubscribed, but the firm maintained the allocation at 2.46 million shares.

The international portion of the IPO was 1.48 times oversubscribed and the firm issued 22.14 million shares.

USAS Building will debut on the Hong Kong bourse on Tuesday, Dec. 30.

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