Shanghai Zhida Technology Nets HK$327 Million from Hong Kong IPO Ahead of Trading Debut

MT Newswires Live

Oct 10

Shanghai Zhida Technology (HKG:2650) raised HK$326.6 million in net proceeds from its initial public offering in Hong Kong.

The final offer price was set at HK$66.92 per share, the bottom of the indicative range, according to an after-market filing with the Hong Kong Stock Exchange on Thursday.

The electric-vehicle charging systems maker offered 5.98 million H-shares.

The Hong Kong public offer was 5,440.80 times oversubscribed, with the final allocation of 597,900 shares, or 10% of the total offering, unchanged from the initial allotment.

The international offer was 2.37 times subscribed, with the final allocation of 5.38 million shares, or 90% of the total offering.

No over-allotment option was exercised.

Shanghai Zhida Technology is set to debut on the Hong Kong bourse on Friday, Oct. 10.

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