Two Chinese companies kick off bookbuilding for HK IPOs on Monday

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