CFMEE priced its Hong Kong IPO at HKD252.73 per share. The H shares will begin trading on the Main Board tomorrow at 9:00 a.m. The deal size and oversubscription ratios have not yet been disclosed.
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CFMEE sets IPO price at HKD252.73 per share for HKEX listing
CFMEE (09630.HK) priced its Hong Kong initial public offering at HKD252.73 per share, the company announced. The H shares will begin trading on the Stock Exchange's Main Board tomorrow at 9:00 a.m.
The company expects to announce today the level of interest in the international offering and the application level under the Hong Kong public offering, along with the basis of allocation and results. The deal size, oversubscription ratios and cornerstone investor details have not yet been disclosed.
The offer price excludes a 1% brokerage commission, a 0.0027% SFC transaction levy, a 0.00565% Stock Exchange trading fee and a 0.00015% Accounting and Financial Reporting Council transaction levy. Shares will trade in board lots of 50 H shares each.
The pricing gives CFMEE a valuation that will be tested when trading begins tomorrow. First-day trading on the Main Board will gauge institutional and retail demand for the newly listed stock. Investors will watch the opening price relative to the offer price for signals on near-term demand.
This article is for informational purposes only and does not constitute investment advice.
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