Lingyi iTech set its Hong Kong IPO price at HKD10.18 per H share. The company will announce allocation results today. Trading on the Main Board is expected to commence tomorrow at 9:00 a.m. in board lots of 660 shares.
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Lingyi iTech prices HK IPO at HKD10.18 per share ahead of debut
Lingyi iTech (01688.HK) set its Hong Kong IPO price at HKD10.18 per H share, the company said, ahead of its Main Board listing on the Stock Exchange of Hong Kong.
The offer price excludes a 1 percent brokerage commission, a 0.0027 percent SFC transaction levy, a 0.00565 percent Stock Exchange trading fee and a 0.00015 percent Accounting and Financial Reporting Council transaction levy, according to the company's announcement.
The company expects to announce today the level of interest in the international offering, the level of applications in the Hong Kong public offering, the basis of allocation of the Hong Kong offer shares and the results of allocations under the Hong Kong public offering. The deal size, oversubscription ratios and cornerstone investor details have not yet been disclosed.
Assuming the global offering becomes unconditional by 8:00 a.m. tomorrow, the H shares will begin trading on the Main Board at 9:00 a.m. the same day, in board lots of 660 H shares each.
The pricing comes as China Galaxy Securities said Hong Kong stocks' fundamentals have confirmed an inflection point, though market confidence and fund flows have yet to form a synergy. The listing will test institutional demand for new equity offerings in Hong Kong amid a cautiously improving macro backdrop. Investors will watch first-day trading performance for signals on near-term IPO appetite in the city.
This article is for informational purposes only and does not constitute investment advice.
