Robot Phoenix Intelligence's retail tranche became the most oversubscribed in history at 14,891 times

Robot Phoenix Intelligence's retail tranche for its Hong Kong initial public offering reportedly oversubscribed by 14,891 times on Wednesday, exceeding the historical record.

The industrial robotic technology company surpassed Golden Leaf International (8549) on the GEM board, which was oversubscribed 11,464 times last year.

Robot Phoenix Intelligence drew 330,000 subscribers, involving HK$564.3 billion. It plans to offer 24.6 million H shares, raising HK$750 million. Its offer price is HK$30.5 per share, with an entry fee of HK$3,080.8 for each board lot of 100 shares.

The company's revenue last year rose 44.5 percent to 390 million yuan (HK$449.59), and the net loss increased by 113.9 percent to 150 billion yuan.

The other two Chinese tech companies also saw their retail tranche for their Hong Kong IPO oversubscribed.

UISEE Technology, which specializes in driverless L4 technology, was oversubscribed 247.8 times, drawing HK$8.1 billion in margin loans.

It plans to offer 14.46 million H shares, raising HK$870 million. The offer price is HK$60.3 per share, with an entry fee of HK$3,045.4 per board lot of 50 shares. 

Shanghai Top Numerical Control Technology, a developer of five-axis CNC tools for advanced manufacturing in China’s aviation and aerospace sector, was oversubscribed by 166 times, drawing HK$28.7 billion in margin loans. 

The company plans to offer 65.33 million H shares, raising HK$1.72 billion. Its offer price is HK$26.39 per share. Each board lot of 100 shares has an entry fee of HK$2,665.6.

Robot Phoenix Intelligence is scheduled to debut on May 18, whereas UISEE Technology and Shanghai Top Numerical Control Technology are scheduled to debut on May 20.
 

 

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