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.
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.
