Wuxi Lead Intelligent Equipment Raises HK$18 Million from Partial Exercise of Overallotment Option in Hong Kong IPO

MT Newswires Live03-09

Wuxi Lead Intelligent Equipment (HKG:0470, SHE:300450) said its underwriters partially exercised the overallotment option of its Hong Kong listing, and the stabilization period of its initial public offering ended on Sunday, March 8, according to a same-day filing with the Hong Kong bourse.

Shares of the intelligent equipment manufacturer fell over 3% in Hong Kong and nearly 5% in Shanghai morning trade Monday.

The firm issued 400,000 H shares at HK$45.80 apiece for additional net proceeds of HK$18 million.

The overallotment option was exercised after around 16.1 million H shares were over-allocated in the international portion of the IPO.

The IPO's underwriters purchased 15.7 million H shares from the open market and covered the rest via the exercise of the overallotment option.

The number of shares held by the public after the exercise of the overallotment option complied with Hong Kong's listing requirements, the firm said.

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