Shanghai Xizhi Technology oversubscribed by 823.8 times in its retail tranche

Shanghai Xizhi Technology saw its retail tranche for its Hong Kong initial public offering oversubscribed by 823.8 times on Tuesday, drawing HK$104.2 billion in margin loans.

The company plans to offer 13.8 million H shares, raising HK$2.53 billion. The offer price is between HK$166.6 and HK$183.2, with an entry fee of HK$2,776 per board lot of 15 shares.

The company specializes in optoelectronic computing, an innovative paradigm that combines the advantages of photonics and electronics