Ridge Outdoor Nets HK$285 Million From Hong Kong IPO Ahead of Debut

MT Newswires Live02-10

Ridge Outdoor International (HKG:2720) raised HK$285.2 million in net proceeds from its initial public offering in Hong Kong.

The final offer price was set at HK$12.25 per share, according to a Monday after-market filing with the Hong Kong Stock Exchange.

The fishing-related equipment maker offered 28.2 million shares in the global offering.

The Hong Kong public offer was 3,654.23 times subscribed, with a final allocation of 2.82 million shares, representing 10% of the total offering.

The international offering was 2.94 times subscribed, with a final allocation of 25.4 million shares, or 90% of the total offering.

Cornerstone investors Orbit Venture Capital Management and Huangshan Dejun Enterprise Management were allotted a combined 10.6 million shares, representing 37.62% of the global offering, according to the filing.

Ridge Outdoor is scheduled to debut on the Hong Kong bourse on Tuesday, Feb.10.

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