Auntea Jenny (Shanghai) Industrial (HKG:2589) raised HK$273 million in gross proceeds and HK$195 million in net proceeds from its initial public offering in Hong Kong after pricing the shares at the upper limit of the indicative range.
The bubble tea chain issued 2.4 million shares at HK$113.12 apiece, the top end of its guidance of as low as HK$95.57 each, according to a late Wednesday filing with the Hong Kong bourse.
The deal's Hong Kong public offering portion was 3,616.83 times subscribed, prompting the company to issue 1.2 million shares, a fivefold increase from the 241,140 shares initially allotted.
The international offering portion was 2.57 times subscribed, and the firm issued 1.2 million shares, lower than the initial allocation of 2.2 million.
Infore Holding (Hong Kong) and Huabao Flavours & Fragrances (SHE:300741) unit Sino Top Trading were cornerstone investors in the listing. They subscribed to a total of 626,130 IPO shares.
Auntie Jenny starts trading on the Hong Kong bourse today, May 8.
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