Chuangxin secures HK$18.6bln, Quantgroup HK$2.19bln in retail tranches

Chinese electrolytic aluminium and alumina producer Chuangxin Industries has closed its Hong Kong initial public offering retail book, securing about HK$18.62 billion in margin financing, oversubscribed roughly 338 times.

The company plans to issue 500 million shares at a price range of HK$10.18 to HK$10.99 per share, raising up to HK$5.5 billion.

Each board lot comprises 500 shares, with a minimum investment of about HK$5,550.40 per lot.

Meanwhile, Chinese e-commerce platform Yangxiaomie’s operator, Quantgroup, pulled HK$2.19 billion in margin finance for its Hong Kong IPO retail tranche, oversubscribed more than 167 times.

The company plans to issue 13.348 million shares, with 10 percent offered to the public at a price range of HK$8.8 to HK$9.8 per share, raising up to HK$130 million.

Each board lot comprises 500 shares, with a minimum investment of HK$4,949.40 per lot.

Quantgroup is expected to debut on the Hong Kong Stock Exchange on November 27.