EKH targets HKD97.6 million in Hong Kong IPO at HKD2.2-2.68

EKH (02523.HK) launched its Hong Kong IPO at HKD2.2 to HKD2.68 per share, targeting net proceeds of HKD97.6 million.

"The IPO will strengthen our financial position for capacity expansion and fleet renewal," EKH said in its prospectus.

The Singapore container depot operator is offering 51.6 million shares, with about 10% reserved for Hong Kong public subscription and 90% for international placing. At the median offer price of HKD2.44, the gross proceeds are estimated at HKD125.9 million before expenses. Each board lot comprises 2,000 shares, requiring an entry fee of about HKD5,414.05.

The subscription period runs from June 30 to July 8, with trading expected to commence on the Main Board on July 13. The company did not disclose cornerstone investors or lead underwriters in the initial filing.

The IPO values EKH at a discount to larger Singapore-listed logistics peers, though the company did not provide a price-to-earnings comparison in its preliminary prospectus. First-day trading on July 13 will test institutional demand for the niche container depot operator amid a busy Hong Kong IPO pipeline.

This article is for informational purposes only and does not constitute investment advice.