Shanghai REFIRE Group Raises HK$629 Million in Hong Kong IPO Ahead of Friday's Debut
MT Newswires Live2024-12-06
Shanghai REFIRE Group (HKG:2570) raised HK$629.4 million in net proceeds from its Hong Kong initial public offering after pricing the shares just above the lower end of the indicative price range.
The Chinese fuel cells manufacturer issued 4,827,920 shares at HK$147 apiece, slightly higher than the bottom end of the HK$145 to HK$165 guidance, according to a Thursday disclosure.
The Hong Kong or public offering portion of the deal was 1.55 times oversubscribed, with 482,800 shares issued for the public offering.
The international or placing shares were 1.33 times oversubscribed, and the firm issued about 4.3 million shares.
Shanghai REFIRE Group will start trading on the Hong Kong bourse today, Dec. 6.
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