Xizang Zhihui, CiDi close retail books with mixed demand ahead of Dec 19 debut

Two companies set to debut on December 19 closed their retail books for their Hong Kong initial public offerings on Tuesday, seeing mixed subscription levels.

Xizang Zhihui Mining has attracted about HK$221.2 billion in margin financing, making its retail tranche around 4,021 times oversubscribed. The miner plans to offer 120 million shares at HK$4.10 to HK$4.51 each, aiming to raise up to HK$550 million.

Autonomous driving firm CiDi has received about HK$1.1 billion in margin orders, or roughly 15 times its retail allocation. The company is offering shares at HK$263 apiece to raise HK$1.42 billion.