Dahon Tech (Shenzhen) (HKG:2543) said its underwriters partially exercised the overallotment option of its Hong Kong listing, and the stabilization period of its initial public offering ended on Saturday, Oct. 4, according to a Sunday filing with the Hong Kong bourse.

Shares of the Chinese folding bicycle retailer gained 1% in morning trade on Monday.

The company will issue 1,121,000 H Shares at HK$49.50 apiece for additional net proceeds of HK$52.8 million.

The overallotment option was exercised after 1,180,000 H shares were over-allocated in the international portion of the IPO.

A further 59,000 H shares were purchased from the open market during the stabilization period to meet the over allocation.

The number of shares held by public after the exercise of the overallotment option amounted to approximately 27.57% of the total issued share capital of the company, meeting Hong Kong's listing requirements of at least 25%.