Tongshifu Sets HK IPO Terms: Up to HK$503.66 Million Raise from 7.41 Million H-Share Global Offering

Bulletin Express
Yesterday

Hangzhou Tongshifu Cultural and Creative (Group) Co., Ltd. (“Tongshifu”) released its Global Offering details on 23 March 2026, outlining plans to list H shares on the Hong Kong Stock Exchange (HKSE).

Offering Structure • Total shares on offer: 7.41 million H shares, comprising 0.74 million shares (10%) for the Hong Kong Public Offering and 6.67 million shares (90%) for the International Placing. • Over-allotment Option: Up to 1.11 million additional H shares (15% of the base deal) may be issued to cover excess demand, potentially expanding the offer to 8.52 million shares. • Potential reallocation: Subject to demand, up to 0.37 million shares could be shifted from the International Placing to the Hong Kong tranche, increasing the latter to 1.11 million shares (15% of total).

Pricing and Fund-Raising Scale • Indicative price range: HK$60.00 – HK$68.00 per H share. • At the ceiling price, gross proceeds could reach approximately HK$503.66 million (US$64.4 million), excluding any exercise of the Over-allotment Option. • Investors applying via the Hong Kong Public Offering must pay up to HK$6,868.57 per board lot of 100 shares, inclusive of brokerage and levies.

Listing and Timetable • Application period: 9:00 a.m. 23 March – 12:00 noon 26 March 2026 (Hong Kong time). All applications will be processed electronically via White Form eIPO or the HKSCC EIPO channel; no paper forms will be accepted. • Pricing date: by 12:00 noon, 27 March 2026. • Allocation results and final offer price announcement: on or before 11:00 p.m., 30 March 2026. • Expected listing on the HKSE Main Board: 9:00 a.m., 31 March 2026, under stock code 0664; trading unit set at 100 H shares.

Stabilisation and Termination Provisions • CMB International Capital Limited will act as Stabilisation Manager, empowered to conduct market-stabilising transactions for up to 30 days post-closing (until 25 April 2026). • The Hong Kong underwriting agreement may be terminated by the Overall Coordinators up to 8:00 a.m. on the listing date upon the occurrence of specified events.

Other Key Details • Sole Sponsor and Sole Sponsor-Overall Coordinator: China Merchants Bank International Capital Limited. • Nominal value per H share: RMB1.00. • H shares are expected to become eligible for trading and settlement in CCASS on listing.

Investors are directed to the company’s prospectus for full information and should note that no printed prospectus will be distributed; all documents are available on the HKSE and company websites.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10