Xizhi Technology Raises HK$2.4 Billion From Hong Kong IPO Ahead of Debut

MT Newswires Live04-28

Shanghai Xizhi Technology (HKG:1879) raised HK$2.38 billion in net proceeds from its initial public offering in Hong Kong.

The final offer price was set at HK$183.20 per H-share, the top of the offer price range, according to a Monday after-market filing with the Hong Kong Stock Exchange.

The China-based optoelectronic computing company offered 13.8 million H-shares in the global offering.

The Hong Kong public offer was 5,784.70 times subscribed, with a final allocation of 2.8 million shares, representing 20% of the total offering.

The international offering was 53.83 times subscribed, with a final allocation of 11 million shares, or 80% of the total offering.

An over-allocation of 2.1 million shares was made under the global offering.

Cornerstone investors, including Alibaba Investment, GIC, Baillie Gifford, BlackRock, Fidelity International, Schroders, Temasek, and CM Shanghai Fund, were allotted a combined 9 million shares, according to the filing.

Xizhi Tech is scheduled to debut on the Hong Kong bourse on Tuesday, April 28.

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