Story
Nazhen Technology Prices Hong Kong IPO at HK$32.96 After Retail Offer Oversubscribed 35 Times
Summary
Nazhen Technology announced its initial public offering was priced at HK$32.96 per share, raising net proceeds of HK$5.45 billion, following strong demand that saw its Hong Kong retail tranche oversubscribed by 35.16 times.
Nazhen Technology (SEHK: 09856) has finalized its initial public offering price at HK$32.96 per share, according to its allotment results announcement. The pricing comes after the company's Hong Kong retail offer generated significant investor interest, signaling a robust appetite for the new listing.
IPO Details
The company's global offering consisted of approximately 172 million shares, raising net proceeds estimated at HK$5.45 billion. The offering was split into an international tranche, accounting for 90% of the shares, and a Hong Kong public offer, which comprised the remaining 10%.
Key details from the offering include:
- Final Offer Price: HK$32.96 per share
- Net Proceeds: Approximately HK$5.45 billion
- Board Lot Size: 100 shares
AdTrading in the company's shares is expected to commence on the Hong Kong Stock Exchange at 9:00 AM local time on Tuesday, September 22, 2026.
Strong Investor Demand
The offering saw strong demand from both institutional and retail investors. The Hong Kong public offer was heavily oversubscribed by 35.16 times, a key indicator of strong local market sentiment.
The international placement was also well-received, securing subscriptions for 4.67 times the number of shares available. The high subscription levels across both tranches reflect solid investor confidence ahead of the company's trading debut.
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