Busy Ming Nets HK$3.53 Billion from Hong Kong IPO Ahead of Debut

MT Newswires Live01-28

Busy Ming Group (HKG:1768) raised HK$3.53 billion in net proceeds from its initial public offering in Hong Kong.

The final offer price was set at HK$236.60 per share, the top end of the offer range, according to a Tuesday after-market filing with the Hong Kong Stock Exchange.

The China-based food and beverage retailer offered 15.5 million H-shares in the global offering, after the full exercise of the offer size adjustment option.

The Hong Kong public offer was 1,899.49 times subscribed, with a final allocation of 1.4 million shares, representing 9.1% of the global offering.

The international offering was 44.44 times subscribed, with a final allocation of 14.1 million shares, or 90.9% of the total offering.

An over-allocation of 2.3 million shares was made under the global offering.

Cornerstone investors, including Tencent, Temasek, BlackRock, FIL Investment, Bosera International, E Fund, Springs Capital (Hong Kong), and Taikang Life, were allotted a combined 6.42 million H-shares, representing 41.4% of the offer shares, according to the filing.

Busy Ming is scheduled to debut on the Hong Kong bourse on Wednesday, Jan. 28.

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