Shanghai Forest Cabin Cosmetics (HKG:2657) raised HK$1.09 billion in gross proceeds from its Hong Kong initial public offering.
The premium domestic skincare brand issued 13,966,450 H-shares at an offer price of HK$77.77 per share, according to a Monday disclosure.
The Hong Kong or public offering portion of the deal was 1,235.81 times oversubscribed, but the firm maintained the allocation at 1.4 million shares.
The international portion of the IPO was 19.79 times oversubscribed and the firm issued 12.6 million shares.
Shanghai Forest Cabin will debut on the Hong Kong bourse on Tuesday, Dec. 30.
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