Two Chinese companies kicked off book building for their Hong Kong initial public offerings, aiming to raise up to HK$1.1 billion in total.
Shanghai FourSemi Semiconductor, a smart power amplifier chips design company that provides audio power amplifier solutions, was 6.92 oversubscribed, drawing HK$207.64 million from margin loans, according to brokerage data.
The company plans to offer 12 million shares, raising at most HK$600 million. The offer price ranges from HK$40 to HK$50, with each lot containing 100 shares and about HK$5,050.43 in entry fees.
Copper craft manufacturing business Hangzhou Tongshifu Cultural and Creative's retail tranche was 3.06 times oversubscribed.
It has drawn HK$154 million from margin loans, with plans to offer 7.41 million shares, raising at most HK$500 million. Each lot of shares is 100, and the entry fee is HK$6,868.6.
Both companies are scheduled to debut on March 31.
Gloria Leung
