Two Chinese tech companies oversubscribed around 5,000 times on Wednesday

Two Chinese companies closed their retail tranche's subscription on Wednesday afternoon, with Huayuan Robotics, a prominent manufacturer specializing in collaborative robots for industrial, healthcare, and logistics, oversubscribed 5,063 times, making it the fourth highest oversubscribed new listing this year.

The company drew HK$315.2 billion in margin loans. It plans to sell 80.79 million H shares. The offer price was HK$17, raising HK$1.37 billion, with each lot of 200 shares, and the entry fee is HK$3,434.4.

Shandong Extreme Vision Technology saw its retail tranche oversubscribed 4,596 times, making it the fifth most oversubscribed new listing this year.

The Chinese AI computer vision solutions provider drew HK$1.16 trillion in margin loans. It plans to sell 12.48 million H shares. The offer price was HK$40, raising HK$499 million. Each lot contains 50 shares, and the entry fee is HK$2020.16.

Both companies expect to debut their Hong Kong initial public offerings on March 30.

Gloria Leung