Keytop Parking Inc. completed its global offering of 10.11 million H shares at HK$39.55 per share, generating gross proceeds of HK$399.90 million and estimated net proceeds of HK$339.90 million after approximately HK$60.00 million in listing expenses. Dealings in the shares are scheduled to begin on 26 June 2026 under the stock code 02272.

The offer comprised 1.01 million shares for the Hong Kong Public Offering and 9.10 million shares for the International Offering, representing 10% and 90% of the total offering respectively.

Demand was strongest in the retail tranche, which drew 165,737 valid applications and was 2,115.21 times subscribed. The international tranche was 5.56 times covered by 106 placees. No over-allocation occurred, and the over-allotment option will not be exercised.

Upon listing, Keytop Parking will have 101.12 million shares outstanding. Public shareholders will hold 41.33% of the enlarged share capital, exceeding the 25% minimum float required under Hong Kong listing rules. Free-float shares—defined as the new H shares not subject to statutory lock-up—account for 10.00% of the post-listing total.

Controlling shareholders Sun Longxi, Huang Jinlian and Hualong Electronics will be subject to a 12-month lock-up on a combined 48.82 million H shares, equal to 48.28% of the company’s issued capital. Other pre-IPO and existing shareholders have the same 12-month lock-up on 42.19 million shares, or 41.72% of the total.

Concentration remains low among new investors: the largest placee received 1.77 million shares (1.75% of issued capital), while the top 25 placees collectively hold 7.68 million shares (7.59%). No single placee owns 10% or more of the company, and at least 300 shareholders will hold H shares at listing, meeting regulatory dispersion criteria.

H share certificates will become valid at 8:00 a.m. on 26 June 2026, provided that the underwriting agreement has not been terminated. Trading will commence at 9:00 a.m. the same day in board lots of 60 shares each.