Hangzhou Grascent Reallocates 5.50 Million Shares to Online IPO Placement

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Hangzhou Grascent (SHE:301688) reallocated 5.5 million shares from the offline placement of its initial public offering after strong demand for the online placement.

The online placement was oversubscribed 12,400 times, according to a Monday filing with the Shenzhen bourse. Final offline placement totaled 15.0 million shares.

The fragrance manufacturer seeks to raise up to 877.7 million yuan via the IPO of 33.33 million shares at 26.33 yuan apiece.

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