Reconova Technologies Nets HK$529 Million in Hong Kong IPO

MT Newswires Live08:56

Reconova Technologies (HKG:7656) raised HK$529.1 million in net proceeds from its initial public offering in Hong Kong

The offer price was set at HK$21.66 per H-share, according to a Tuesday after-market filing with the Hong Kong Stock Exchange.

The Chinese artificial intelligence company offered 28.1 million H-shares in the global offering.

The Hong Kong public offer was 3,646.06 times subscribed, with a final allocation of 5.6 million shares, representing 20% of the total offering.

The international offering was 3.08 times subscribed, with a final allocation of 22.5 million shares, or 80% of the total offering.

Reconova Technologies is scheduled to debut on the Hong Kong bourse on Wednesday, July 8.

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