Yunnan Jinxun Resources Nets HK$164 Million From Full Exercise of Overallotment Option in Hong Kong IPO

MT Newswires Live02-06

Yunnan Jinxun Resources (HKG:3636) said the overallotment option in its Hong Kong initial public offering was fully exercised on Thursday, with the issue of 5.5 million additional shares at HK$30 each, according to a same-day bourse filing.

The non-ferrous metal processing firm said it will receive additional net proceeds of about HK$163.7 million, which will be allocated on a pro rata basis in line with the use of proceeds set out in the prospectus.

The over-allotment shares represent about 15% of the offer shares initially available under the global offering and are expected to begin trading on Feb. 10.

Yunnan Jinxun also said the stabilization period for the global offering ended on Thursday and no market purchases were made for price stabilization purposes during the period.

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