Rongta Technology (Xiamen) Group (HKG:9881) raised HK$131.2 million in net proceeds from its initial public offering in Hong Kong, according to a Tuesday filing with the Hong Kong Exchange.
The provider of identification and data capture solutions issued 18.4 million shares at HK$10 each, the lower end of its guidance of as high as HK$12 per share.
The deal's Hong Kong public offering portion was 275.96 times subscribed, prompting the company to issue 2.43 million shares, up from the 1.84 million shares initially allotted.
The international offering portion was 0.96 times subscribed, and the firm issued 15.9 million shares, lower than the initial allocation of 16.5 million.
The cornerstone investors subscribed to a total of 8.03 million IPO shares.
Rongta Technology starts trading on the Hong Kong bourse today, June 10.
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