Busy Ming (HKG:1768) said the overallotment option in its Hong Kong initial public offering was fully exercised on Tuesday, with the issue of 2.3 million additional shares at HK$236.60 each, according to a same-day bourse filing.

The overall shares represent about 15% of the total offer shares available under the global offering after the exercise of the offer size adjustment option.

The China-based food and beverage retailer expects to raise an additional HK$534 million in net proceeds.

Dealings in the over-allotment shares are expected to begin on Feb. 13, the filing said.