Anhui Jinyan Kaolin New Materials (HKG:2693) raised HK$124.3 million in net proceeds from its initial public offering in Hong Kong.

The final offer price was set at HK$7.30 per share, according to an after-market filing with the Hong Kong Stock Exchange on Tuesday.

The China-based coal-series kaolin company offered 24.3 million shares in the global offering.

The Hong Kong public offer was 6,876.17 times oversubscribed, with a final allocation of 2.43 million shares, or 10% of the total offering.

The international offering was 2.01 times subscribed, with a final allocation of 21.87 million shares, or 90% of the total offering.

An over allotment of 1.49 million shares was made under the international tranche.

Anhui Jinyan Kaolin is scheduled to debut on the Hong Kong bourse on Wednesday, Dec. 3.