Quantgroup (HKG:2685) raised HK$12.4 million in net proceeds from its initial public offering in Hong Kong.

The final offer price was set at HK$9.80 per share, the top end of the indicative range, according to an after-market filing with the Hong Kong Stock Exchange on Wednesday.

The e-commerce platform operator offered 13.35 million shares in the global offering.

The Hong Kong public offer was 9,366.28 times oversubscribed, with a final allocation of 1.34 million shares, or 10% of the total offering.

The international offering was 15.07 times subscribed, with a final allocation of 12 million shares, or 90% of the total offering.

An over-allotment of 1.75 million shares was made under the international tranche.

Quantgroup is scheduled to debut on the Hong Kong bourse on Thursday, Nov. 27.