Lvkon Transmission Draws Strong Demand for Shenzhen IPO

MT Newswires Live

08/11

Suzhou Lvkon Transmission Technology (SHE:301655) drew strong demand for its initial public offering on the Shenzhen Stock Exchange's ChiNext board.

Valid online subscriptions reached 126.1 billion shares, exceeding the 9.6 million shares initially offered. The oversubscription triggered the reallocation mechanism, increasing the online tranche to 19.1 million shares, according to a Tuesday filing with the Shenzhen bourse.

The company plans to raise about 580.9 million yuan from the offering of 68.3 million shares at 8.50 yuan apiece.

Final allotment results will be disclosed on Aug. 12.

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