China's Joyson Electronic prices Hong Kong IPO at HK$22

Intelligent automotive technology solutions provider Ningbo Joyson Electronic Corporation has priced its offer price at HK$22 for its Hong Kong initial public offering.

The price represents a discount of 32.5 percent from its mainland-trading shares which recorded at 29.84 yuan (HK$32.58) by noon on Tuesday.

The Shanghai-listed company has at least accepted orders worth HK$43.85 billion via margin finance, making its retail tranche 120 times oversubscribed.

Joyson plans to raise around HK$3.52 billion via its IPO.