Ceyear Technologies (SHE:301689) saw the retail portion of its Shenzhen initial public offering oversubscribed 11,028.72 times, triggering the clawback mechanism, according to a Shenzhen bourse filing on Tuesday.

Following the clawback, the final online offering size reached 24.5 million shares, equivalent to 40% of the total public offering size after deducting the final strategic placement.

The Chinese electronic measuring instrument manufacturer sold 102.1 million shares, representing 11% of its share capital post-offering, at 16 yuan apiece, raising about 1.63 billion yuan in gross proceeds.