BBSB International Raises HK$50 Million from Hong Kong IPO Ahead of Debut

MT Newswires Live01-13

BBSB International (HKG:8610) raised HK$50.0 million in net proceeds from its share offer on the Hong Kong Stock Exchange's GEM board.

The final offer price was set at HK$0.60 per share, the bottom of the indicated price range of HK$0.60 to HK$0.70, according to a Monday after-market filing with the Hong Kong Stock Exchange.

The Cayman Islands-incorporated company offered 125.0 million shares in the listing, comprising 12.5 million public offer shares and 112.5 million placing shares.

The public offer was 10,745.13 times subscribed, with a final allocation of 12.5 million shares, representing 10% of the share offer.

The placing was 1.01 times subscribed, with a final allocation of 112.5 million shares, or 90% of the total offer.

Cornerstone investors Choy Joo Seong and Tan Nam Joo were allotted a combined 23.3 million shares, accounting for 18.66% of the offer shares, according to the filing.

BBSB International is scheduled to debut on the GEM board on Tuesday, Jan. 13.

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