Seres Group (HKG:9927, SHA:601127) raised about HK$14.02 billion in net proceeds from its initial public offering in Hong Kong.

The final offer price was set at HK$131.50 per share, according to an after-market filing with the Hong Kong Stock Exchange on Tuesday.

The new energy vehicle maker offered 108.6 million H-shares after partially exercising the offer size adjustment option for 8.4 million shares.

The Hong Kong public offer was 132.68 times oversubscribed, with a final allocation of 10.9 million shares, or 10% of the total offering, following the partial upsize.

The international offering was 8.61 times subscribed, with a final allocation of 97.8 million shares, or 90% of the total offering, after the partial exercise of the upsize option.

An overallotment of 16.3 million shares was made.

Cornerstone investors, including Chongqing Industrial Investment Parent Fund, GF Fund Management, Schroder Investment Management, Mirae Asset Securities, and Zhongsheng Holdings, were allotted a combined total of 48.8 million shares, representing 44.95% of the global offering.

Seres Group is scheduled to debut on the Hong Kong bourse on Wednesday, Nov. 5.