Shuangdeng Group (HKG:6960) said its underwriters fully exercised the overallotment option of its Hong Kong listing, and the stabilization period of its initial public offering ended on Saturday, Sept. 20, according to a Sunday filing with the Hong Kong bourse.

Shares of the battery manufacturer fell over 2% in morning trade Monday.

The company will issue 8,783,500 H Shares at HK$14.51 apiece for additional net proceeds of HK$121.6 million.

The overallotment option was exercised after 8,783,500 H shares were over-allocated in the international portion of the IPO.

No H shares were purchased from the open market during the stabilization period.

The number of shares held by the public after the exercise of the overallotment option amounted to approximately 30.05% of the total issued share capital of the company, meeting Hong Kong's listing requirements of at least 24.80%.