Ningbo Joyson Electronic (HKG:0699, SHA:600699) raised HK$3.25 billion in net proceeds from its initial public offering in Hong Kong.

The final offer price was set at HK$22.00 per share, according to an after-market filing with the Hong Kong Stock Exchange on Wednesday.

The automotive electronics supplier offered 155.1 million H-shares in the global offering.

The Hong Kong public offer was 147.67 times oversubscribed, with a final allocation of 15.5 million shares, or 10% of the total offering.

The international offering was 9.78 times subscribed, with a final allocation of 139.6 million shares, or 90% of the total.

An over allotment of 23.3 million shares was made under the international tranche.

Cornerstone investors, including Jun Sheng SP, Ningbo Xinzhi Industrial Investment, Jump Trading, Eastern Bell Capital VIII, PSBC Wealth Management, Vandi Investments, and Fidelidade - Companhia de Seguros, were allotted a combined total of 37.8 million shares, representing nearly 24.4% of the global offering.

Ningbo Joyson Electronic is scheduled to debut on the Hong Kong bourse on Thursday, Nov. 6.