Key Takeaways:
BEFAR GROUP (06745.HK) launched its Hong Kong IPO, seeking to raise as much as HKD 1.26 billion from the sale of 352 million H shares.
The integrated chemical group is offering 352 million H shares, with the Hong Kong public tranche accounting for about 10% and the international placing representing the remaining 90%. The offer price ranges from HKD 3.05 to HKD 3.59 apiece, with a board lot of 1,000 shares requiring an entry fee of approximately HKD 3,626.21. The subscription period runs from June 30 to July 7, with trading expected to begin on July 10.
Based on the mid-point offer price of HKD 3.32, the company expects net proceeds of about HKD 1.102 billion. Seven cornerstone investors, including Aurora SF, CHINAHONGQIAO (01378.HK) and Hyperion Venture, have collectively subscribed for shares equivalent to approximately USD 49.8 million.
The IPO gives BEFAR GROUP a market capitalization of roughly HKD 4.7 billion at the mid-point price. First-day trading on July 10 will test institutional appetite for the chemical sector as Hong Kong's IPO market shows signs of recovery.
This article is for informational purposes only and does not constitute investment advice.
