Jingdong Industrials (HKG:7618) raised HK$2.83 billion in net proceeds from its initial public offering in Hong Kong.

The final offer price was set at HK$14.10 per share, the midpoint of the price range of HK$12.70 to HK$15.50, according to an after-market filing with the Hong Kong Stock Exchange on Wednesday.

The industrial supply chain services provider, a unit of JD.com (HKG:9618), offered 211.2 million shares in the global offering.

The Hong Kong public offer was 60.52 times oversubscribed, with a final allocation of 21.1 million shares, or 10% of the total offering.

The international offering was 7.88 times subscribed, with a final allocation of 190.1 million shares, or 90% of the total.

An over allotment of about 31.7 million shares was made in connection with the offering.

Cornerstone investors, including M&G Investors, CPE Investment, AIM, IvyRock, CoreView, Schonfeld, and Burkehill, were allotted 93.9 million shares, representing 44.45% of the global offering.

Jingdong Industrials is scheduled to debut on the Hong Kong bourse on Thursday, Dec. 11.