CIG surged 50% on Hong Kong Debut

CIG Shanghai (HKG:6166, SHA:603083) raised HK$4.48 billion in net proceeds from its initial public offering in Hong Kong.

The final offer price was set at HK$68.88 per share, according to an after-market filing with the Hong Kong Stock Exchange on Monday.

The data transmission device maker offered 67 million H-shares in the global offering.

The Hong Kong public offer was 338.7 times oversubscribed, with a final allocation of 6.7 million shares, or 10% of the total offering, unchanged from the initial allotment.

The international offering was 16.5 times subscribed, with a final allocation of 60.3 million shares, or 90% of the total offering.

An over allotment of 10.1 million shares was made under the international tranche.