Delton Technology (Guangzhou) Inc. (stock short name: DELTON; stock code: 01989.HK) has finalised its Hong Kong initial public offering with the following key metrics:
• Offer structure – Total shares offered: 46.00 million H-shares, comprising 4.60 million Hong Kong Offer Shares (10%) and 41.40 million International Offer Shares (90%). – Final offer price: HK$71.88 per share, at the top of the indicated range; no over-allotment option or stabilisation mechanism.
• Fund-raising – Gross proceeds: HK$3.31 billion. – Estimated listing expenses: HK$121.22 million. – Net proceeds to the company: HK$3.19 billion.
• Subscription response – Hong Kong Public Offering: 202,417 valid applications, subscription rate 1,070.72 times. – International Offering: subscribed 14.64 times by 162 placees.
• Shareholding on listing – Total shares in issue post-IPO: 472.45 million. – Cornerstone tranche: 20.67 million shares (4.38% of enlarged capital) allocated to 12 investors, including UBS AM Singapore, Value Partners and Greenwoods; all cornerstone shares are subject to a six-month lock-up expiring 19 September 2026. – Controlling shareholders (Zhenyun Investment, Guangcai Investment and Guangsheng Investment) hold a combined 36.22%, 6.10% and 6.10% respectively; lock-up runs to 19 September 2026 (first six months) and 19 March 2027 (second six months). – Top 10 international placees took 53.06% of the Offer Shares; the top single placee received 3.81 million shares (0.81% of total share capital).
• Free float and public float – Expected public float market value: approximately HK$3.31 billion, above the HK$3 billion threshold under Rule 19A.13A(2). – Free float (excluding cornerstone lock-up): 25.33 million shares with an estimated market capitalisation of HK$1.82 billion, meeting the HK$600 million requirement under Rule 19A.13C.
• Timetable – Listing date and first day of dealings: Friday, 20 March 2026. – Stock will trade in board lots of 100 H-shares.
The board confirms compliance with Listing Rules and that no rebate or preferential treatment was offered to any subscribers beyond the disclosed cornerstone and waiver arrangements.