Shenzhen Transsion Prices Hong Kong IPO Below Maximum

MT Newswires Live10-13

Shenzhen Transsion (HKG:2636, SHA:688036) priced its Hong Kong initial public offering at HK$35.30 per share, below the targeted maximum of HK$38.80, according to a Tuesday filing.

The offering drew about 14,000 applications and was oversubscribed roughly 3.5 times, indicating a lukewarm response amid concerns over demand for new listings in the fourth quarter, the South China Morning Post reported, citing people familiar with the matter.

The phone maker's HK$3.36 billion offering closed its bookbuilding on Monday, according to the report.

Transsion expects to announce the allocation results on Wednesday, with trading in its H-shares scheduled to begin on the Hong Kong Exchange on Thursday, subject to the global offering becoming unconditional.

Shenzhen Transsion did not immediately respond to MT Newswires' request for comment.

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