Luzhou Bearing (SHE:301699) saw the retail portion of its Shenzhen initial public offering oversubscribed 10,525.28 times, triggering the clawback clause, according to a Shenzhen bourse filing on Tuesday.
Following the clawback, the final online offering size reached 29.8 million shares, equivalent to 40% of the total public offering size after deducting the final strategic placement.
The Chinese bearing manufacturer, which will list on the ChiNext board, sold 124 million shares, representing 17.13% of its share capital post-offering, at 15.88 yuan apiece, raising about 1.97 billion yuan in gross proceeds.
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