Tesla (TSLA.US) supplier and manufacturer of refrigeration and air conditioning control components and automotive thermal management system parts, SANHUA (02050.HK), announced its IPO details.
The company plans to globally issue 360 million shares, with 25.2231 million shares for the Hong Kong public offering and 335 million shares for the international offering. The IPO price per share ranges from HKD21.21 to HKD22.53.
Entry fee for each board lot size (100 shares) was HKD2,275.72. The subscription opens today (13th) and will close at noon next Wednesday (18th), with the listing expected on June 23. The joint sponsors are CICC and Huatai International.
The company introduced 17 cornerstone investors, including Schroders, GIC, Green Better under XIAOMI-W (01810.HK), MSIP under Morgan Stanley (MS.US), ICBC Wealth Management under ICBC (01398.HK), and PSBC Wealth Management under PSBC (01658.HK), collectively subscribing for USD562 million worth of shares.
Based on the median IPO price of HKD21.87, the company was expected to raise net proceeds of approximately HKD7.741 billion.
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AASTOCKS Financial News
Website: www.aastocks.com
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