Four new listings in Hong Kong have shown high market demand, with Chinese reusable-packaging service provider Alsco Pooling Service's retail tranche for its Hong Kong initial public offering oversubscribed 1,346 times on Tuesday.
The company has drawn HK$38.36 billion from margin loans, as per brokerage data, planning to offer 20.34 million shares, raising around HK$285 million. The offer price ranges from HK$11 to HK$14, with each lot containing 500 shares and about HK$7,070.6 in entry fees.
Separately, Shenzhen's manufacturer and designer of precision micro-driven and transmission systems, Zhaowei Machinery & Electronics, saw its retail tranche for its Hong Kong IPO 364.7 times oversubscribed on Tuesday.
The company secured HK$72.08 billion from margin loans, with plans to offer 26.75 million H shares to raise up to HK$1.97 billion. The offer price per share is HK$73.68, with each lot of 100 shares and an entry fee of HK$7,442.31.
Also, Chinese industrial robot maker Estun Automation's retail tranche for its Hong Kong IPO was 10.97 times oversubscribed on Tuesday.
The company has drawn HK$1.97 billion from margin loans, and plans to offer 96.78 million H shares, raising up to HK$1.65 billion. The offer price ranges from HK$15.36 to HK$17, with each lot of 200 shares and an entry fee of HK$3,434.29.
MeiG Smart Technology, a global supplier of cellular modulesIoT solutions, and intelligent computing modules based in Shenzhen, had its retail tranche for its Hong Kong IPO 50.1 times oversubscribed on Tuesday.
The company has drawn HK$5.16 billion from margin loans.
It plans to offer 35 million H shares, raising up to HK$1.01 billion. The offer price is not higher than HK$28.86, with each lot of 100 shares and an entry fee of HK$2,915.1.
Their scheduled debuts are March 9 for Zhaowei, Estun, and Alsco, and March 10 for MeiG.
Gloria Leung
