Shenzhen Zhaowei Machinery & Electronics Nets HK$1.8 Billion From Hong Kong IPO Ahead of Debut

MT Newswires Live03-09

Shenzhen Zhaowei Machinery & Electronics (HKG:2692, SHE:003021) raised HK$1.83 billion in net proceeds from its initial public offering in Hong Kong, according to a Friday after-market filing with the Hong Kong Stock Exchange.

The final offer price was set at HK$71.28 per H-share, the filing showed.

The Chinese micro transmission and drive system products maker offered 26.7 million H shares in the global offering.

The Hong Kong public offer was 1,536.76 times subscribed, with a final allocation of 2.7 million shares, representing 10% of the total offering.

The international offering was 13.40 times subscribed, with a final allocation of 24.1 million shares, or 90% of the total offering.

Cornerstone investors, including HHLR Advisors, Mirae Asset Securities HK, Perseverance Asset Management, Da Cheng International, GF Fund HK, Oakwise Growth Fund, Jump Trading, VVC Technology, FMF, Taihu Golden Valley, Topstar Worldwide, Virtues Capital, Hengbang, W Investment, BeingBoom Capital, Bridge Zone Group, CMBC International, RIME, and Main Source Capital, were allotted a combined 9.1 million shares, representing 34.17% of the global offering, according to the filing.

Shenzhen Zhaowei Machinery & Electronics is scheduled to debut on the Hong Kong bourse on Monday, March 9.

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Electronics (HKG:2692, SHE:003021) raised HK$1.83 billion in net proceeds from its initial public offering in Hong Kong, according to a Friday after-market filing with the Hong Kong Stock Exchange.</p><p>The final offer price was set at HK$71.28 per H-share, the filing showed.</p><p>The Chinese micro transmission and drive system products maker offered 26.7 million H shares in the global offering.</p><p>The Hong Kong public offer was 1,536.76 times subscribed, with a final allocation of 2.7 million shares, representing 10% of the total offering.</p><p>The international offering was 13.40 times subscribed, with a final allocation of 24.1 million shares, or 90% of the total offering.</p><p>Cornerstone investors, including HHLR Advisors, Mirae Asset Securities HK, Perseverance Asset Management, Da Cheng International, GF Fund HK, Oakwise Growth Fund, Jump Trading, VVC Technology, FMF, Taihu <a href=\"https://laohu8.com/S/GVDI\">Golden Valley</a>, Topstar Worldwide, Virtues Capital, Hengbang, W Investment, BeingBoom Capital, Bridge Zone Group, CMBC International, RIME, and Main Source Capital, were allotted a combined 9.1 million shares, representing 34.17% of the global offering, according to the filing.</p><p>Shenzhen Zhaowei Machinery &amp; 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