Han's CNC Technology Raises HK$4.6 Billion From Hong Kong IPO Ahead of Debut

MT Newswires Live02-06

Shenzhen Han's CNC Technology (HKG:3200) raised HK$4.63 billion in net proceeds from its initial public offering in Hong Kong.

The final offer price was set at HK$95.80 per share, according to a Thursday after-market filing with the Hong Kong Stock Exchange.

The China-based CNC equipment maker offered 50.5 million H-shares in the global offering.

The Hong Kong public offer was 446.39 times subscribed, with a final allocation of 5.05 million shares, representing 10% of the total offering.

The international offering was 21.07 times subscribed, with a final allocation of 45.4 million shares, or 90% of the total offering.

An over-allocation of 7.6 million shares was made under the international tranche.

Cornerstone investors, including GIC, Schroders, HHLR Advisors, Morgan Stanley Fullgoal Asset Management (HK), Tibet Longrising Asset Management, ICBC Wealth Management, Wind Sabre Fund SPC, and WILL Semiconductor, were allotted a combined 25.2 million shares, representing 49.99% of the global offering, the filing showed.

Han's CNC is set to debut on the Hong Kong bourse on Friday, Feb. 6.

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