China-based integrated energy storage system solutions provider RELYEZ ENERGY (09621) closed its subscription period on November 4. Market sources indicate that its public offering tranche attracted 60,000 subscribers, representing an oversubscription of 1,389 times and involving approximately HK$89.6 billion in funds.

The company began taking subscriptions on October 30, planning to issue 57.541 million H shares, with 10% allocated for public offering in Hong Kong. The offer price range was set between HK$8.54 and HK$11.1, aiming to raise up to HK$640 million. Each board lot comprises 500 shares, with a minimum entry cost of approximately HK$5,606.

RELYEZ ENERGY is expected to list on November 9, with CMBI acting as the sole sponsor. The group is an integrated energy storage system solutions provider in China, focused on delivering comprehensive energy storage system solutions, hardware products, software systems and platforms, as well as supporting services. Its offerings cover all critical stages of energy storage projects, from asset development and delivery to operations and management.

The group is engaged in the research and development, manufacturing, and sales of energy storage system solutions and products, while providing supporting services to customers in China and overseas. Its energy storage system solutions and products can be applied across various scenarios, including large-scale energy storage stations and commercial and industrial applications.

According to Frost & Sullivan, the group ranked tenth in China's energy storage system solutions industry in 2025, with shipments of 5.4 GWh and a market share of 2.1%. The group has entered into a cornerstone investment agreement with CDH Global (the cornerstone investor), under which the cornerstone investor has agreed, subject to certain conditions, to subscribe for offer shares at a total amount of approximately HK$31.4 million (excluding brokerage commissions, SFC transaction levy, AFRC transaction levy, and Stock Exchange trading fees), rounded down to the nearest board lot of 500 H shares.

Based on an offer price of HK$9.82 per offer share (the midpoint of the indicative offer price range set out in the prospectus), the total number of offer shares to be subscribed by the cornerstone investor will be 3.1965 million H shares, representing approximately 5.56% of the offer shares under the global offering and approximately 0.78% of the company's total issued share capital immediately following completion of the global offering (assuming no options that may be granted under the pre-IPO share option incentive plan are exercised).