Zhongji Innolight Hong Kong IPO Oversubscribed 15.84 Times, Offer Price HKD 980, Dark Pool Falls About 1%
Zhongji Innolight (03308) announced its Hong Kong IPO results. The Hong Kong public offering was oversubscribed 15.84 times, with 62,700 applicants and a one-lot success rate of 70%. The final offer price was set at HKD 980 per share. The company raised net proceeds of about HKD 52.891 billion from the global offering of 54.5 million shares. In dark pool trading, shares fell to as low as HKD 931, closing between HKD 969.5 and HKD 972, down 0.8% to 1% from the offer price.
Zhongji Innolight (03308) announced its allotment results. The Hong Kong public offering was oversubscribed 15.84 times, attracting 62,700 applicants, with a one-lot success rate of 70%. To secure one lot, investors needed to subscribe for 16 lots. No retail investors applied for the "top gun" order. The international offering was subscribed by 549 placees, with an oversubscription of 8.73 times.
The final offer price was set at HKD 980 per share. The global offering comprised 54.5 million shares, with net proceeds of approximately HKD 52.891 billion. The shares will begin trading on Thursday (30th).
Across three major dark pool trading platforms, the shares fell to a low of HKD 931, representing a 5% drop from the offer price. They eventually closed at between HKD 969.5 and HKD 972, down 0.8% to 1% from the offer price, resulting in a loss of HKD 400 to HKD 525 per lot.