Kinwong Electronic Nets Nearly HK$5 Billion in Hong Kong IPO

MT Newswires Live09-29 08:45

Shenzhen Kinwong Electronic (HKG:3228, SHA:603228) raised HK$4.96 billion in net proceeds from its initial public offering in Hong Kong.

The final offer price was set at HK$69.88 per H-share, according to a Monday after-market filing.

The Chinese printed circuit board maker offered 72.9 million H-shares.

The Hong Kong public offer was 94.25 times subscribed, with a final allocation of 7.3 million shares, while the international offering was 10.57 times subscribed, with a final allocation of 65.6 million shares.

Cornerstone investors were allotted a combined 34.8 million shares, or 47.69% of the IPO shares.

Kinwong Electronic is scheduled to debut on the Hong Kong bourse on Tuesday, Sept. 29.

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