SICC (HKG:2631) raised HK$1.94 billion in net proceeds from its initial public offering in Hong Kong, according to a Tuesday after-market bourse filing.
The semiconductor material company priced its 47,745,700 H-shares at HK$42.80 apiece.
The Hong Kong public offer was 2,809.19 times oversubscribed, triggering a clawback and raising the final allocation to 16,711,000 shares, or about 35% of the total offering, from the initial 2,387,300 shares.
The international offering was 9.04 times subscribed, with the final allocation reduced to 31,034,700 shares following reallocation.
An overallotment of 7,161,800 shares was made under the international tranche.
Cornerstone investors, including Guoneng Environmental Protection Investment Group, Mirae Asset Securities (HK), SDG Asset Management (HK), H&T Intelligent Control International, and Lan Kun, were allotted a combined 17,295,200 shares, or about 36.2% of the global offering.
SICC is scheduled to debut on the Hong Kong bourse on Wednesday, Aug. 20.
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