FS.com Raises HK$1.6 Billion From Hong Kong IPO Ahead of Debut

MT Newswires Live03-23

FS.com (HKG:3355) raised HK$1.56 billion in net proceeds from its initial public offering in Hong Kong.

The final offer price was set at HK$41.60 per H-share, according to a March 20 after-market filing with the Hong Kong Stock Exchange.

The China-based direct-to-customer networking equipment provider offered 40 million H-shares in the global offering.

The Hong Kong public offer was 1,579.71 times subscribed, with a final allocation of 4 million shares, representing 10% of the total offering.

The international offering was 10.92 times subscribed, with a final allocation of 36 million shares, or 90% of the total offering.

An over-allocation of 6 million shares was made under the global offering.

Cornerstone investors, including Hao Great China Focus Fund, Great Holding Development, WT Asset Management, Caitong Funds SPC - Strategic Equity Fund III SP, Shanghai Intewise Capital Investment, Foresight Capital Steady Growth LPF, were allotted a combined 16.9 million shares, representing 4.23% of the global offering, according to the filing.

FS.com is scheduled to debut on the Hong Kong bourse on Monday, March 23.

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