JST Group Corp. (HKG:6687) raised HK$1.94 billion in net proceeds from its initial public offering in Hong Kong.

The final offer price was set at HK$30.60 per share, according to an after-market filing with the Hong Kong Stock Exchange on Monday.

The Chinese e-commerce SaaS ERP provider offered 68.17 million shares, comprising 6.82 million shares under the Hong Kong public offer and 61.35 million shares under the international offer.

The Hong Kong public offer was 1,952.95 times oversubscribed, with a final allocation of 6.82 million shares, or 10% of the total offering, unchanged from the initial allotment.

The international offering was 22.89 times subscribed, with a final allocation of 61.35 million shares, or 90% of the total offering.

An overallotment of 10.22 million shares was made in connection with the offering.

Cornerstone investors, including Blue Lake Capital Opportunity Fund, China Universal Asset Management, Dymon Asia Multi-Strategy Investment Master Fund, Fourier Capital, Greenwoods Asset Management, and HongShan Growth, were allotted a total of 33.06 million shares, representing about 48.5% of the global offering.

JST Group is scheduled to debut on the Hong Kong bourse on Tuesday, Oct. 21.