HQVT prices HK IPO at HKD 7.2, targets HKD 537 million net proceeds

HQVT (01392.HK) launched its Hong Kong IPO at HKD 7.2 per share, targeting net proceeds of about HKD 537 million.

The company plans to offer 85.2 million H shares, with approximately 10% reserved for the Hong Kong public offering and 90% for the international placing, according to its listing prospectus. Based on a board lot of 500 shares, the entry fee per board lot is HKD 3,636.31.

The subscription period opened today (June 11) and will close at noon on Tuesday, June 16. Trading is expected to commence on June 22 on the Main Board. Joint sponsors for the IPO are CMBC Capital and SPDB International.

The company did not disclose cornerstone investors or the use of proceeds breakdown in its initial filing. The oversubscription ratio for both retail and institutional tranches will be determined after the close of the subscription period.

At the offer price, HQVT carries an implied market capitalization of about HKD 2.4 billion. First-day trading on June 22 will test institutional demand for the newly listed stock.

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