Yeahka retail portion heavily oversubscribedBusiness | 29 May 2020 4:09 pm
Mobile payment platform Yeahka, back by Tencent (0700) has recorded 640 times oversubscription for its retail tranche. The mainland company will list on Monday.
The ratio of allotment for one board lot of 400 shares successfully was 10 percent only. The offer price has been determined at HK$16.64 per share, which was the upper limit. The capital raised amount is estimated to be HK$1.53 billion.
Shares of Yeahka once gained by 5 percent in the gray market before plunging by 15.7 percent. The high was HK$17.46 per share, 4.9 percent above the IPO price, according to PhillipMart of Phillip Securities.