Xizhi Technology's retail tranche in its Hong Kong IPO oversubscribed 5,816 times on Thursday, crowning this year's second most oversubscribed stock upon closing its bookbuilding on Thursday.
It has drawn HK$584 billion in margin loans. Its oversubscription was followed by BBSB International (8610), a Malaysia-based civil engineering contractor, which oversubscribed by 10,743 times on the GEM board in January.
The Chinese AI unicorn focusing on photonic-electronic hybrid computing and optical interconnect technology plans to offer 13.8 million H shares, raising at most HK$2.53 billion. The offer price is between HK$166 and HK$183. Each board lot of 15 shares has an entry fee of HK$2,775.
Mabwell (Shanghai) Bioscience also closed its book building yesterday. Its retail tranche was oversubscribed by 297 times, drawing HK$43.2 billion in margin loans. The China-based, innovation-driven biopharmaceutical company plans to offer 47.13 million H shares, raising at most HK$1.45 billion. Each board lot has 200 shares, with an HK$6,204 entry fee.
Shanghai-based Business Internet of Things company Sunmi Technology saw its retail tranche oversubscribed by 851 times, drawing HK$90 billion. It plans to offer 42.63 million H shares, raising HK$1.06 billion. The offer price is HK$24.86. Each board lot has 100 shares, and the entry fee is HK$2,511.
Xizhi Technology and Mabwell (Shanghai) Bioscience are scheduled to debut on April 28, and Sunmi Technology on April 29.
Meanwhile, Alibaba-backed (9988) Zelos Technology plans to raise around US$600 million in a Hong Kong IPO. It is a global leader in AI-driven autonomous driving technology.
