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Two companies opened their retail books for Hong Kong initial public offerings.
Lemo Services, a shared massage-equipment provider, saw its retail tranche roughly 82 times oversubscribed, supported by HK$1.82 billion in margin financing. The company plans to offer 5.556 million shares, with 10 percent for the public, at HK$27–40 each, raising up to HK$220 million. Each board lot of 100 shares requires a minimum investment of HK$4,040.4.
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Anhui Jinyan Kaolin New Materials attracted HK$763 million in margin financing, about 43 times oversubscribed, for its planned 24.3 million-share offer, with 10 percent for retail at HK$7.3 per share and a board-lot minimum investment of HK$3,686.8 for 500 shares.
Both are set to list on December 3.
Meanwhile, Hebei Haiwei Electronic New Material Technology closed its retail book with about 5,431 times oversubscription, involving HK$241.5 billion. The company is expected to list on November 28, offering shares at HK$14.28 each to raise HK$440.3 million.