Read More
Four companies set to begin trading on the Hong Kong exchange on December 22 will close their retail subscription books on Tuesday, with demand varying widely across offerings.
ADVERTISEMENT
SCROLL TO CONTINUE WITH CONTENT
State-owned cultural tourism operator Impression Dahongpao has seen strongest retail interest among them, with margin financing of about HK$12.8 billion, or roughly 862 times oversubscribed of its retail tranche. The company plans to offer 36.1 million shares at HK$3.47 to HK$4.10 each, aiming to raise up to HK$150 million.
Biopharmaceutical firm B&K Corporation has also attracted heavy demand, with margin loans of about HK$27.2 billion, representing about 303 times oversubscription. The company is offering 17.65 million shares at HK$38.20 to HK$51 apiece to raise as much as HK$900 million.
BenQ BM Holding Cayman, which operates private hospitals in the Chinese mainland, has drawn around HK$317 million, or 4 times oversubscription. It plans to issue 67 million shares at HK$9.34 to HK$11.68, seeking to raise up to HK$782 million.
Nanhua Futures has attracted about HK$331 million in margin financing, equivalent to 1.92 times retail demand. The company is offering 110 million shares at HK$12 to HK$16 each, targeting proceeds of up to HK$1.72 billion.
Meanwhile, three other companies expected to list on December 23 are still building their retail books. QingSong Health has attracted about HK$746 million in margin financing, making its retail tranche around 12 times oversubscribed. Artificial intelligence firm Nuobikan Artificial Intelligence Technology (Chengdu) has drawn about HK$321 million, or roughly eight times demand. Biotechnology company Hanx Biopharmaceuticals (Wuhan) has recorded about HK$2.57 billion in margin loans, translating into around 44 times oversubscription.
