Dajin prices HK IPO at HKD 66.4 per share, raising US$851M

Dajin (01081.HK) priced its Hong Kong IPO at HKD 66.4 per share, raising about HKD 6.64 billion (US$851 million).

The offer price was determined on June 3, the company said in a stock exchange filing.

The over-allotment option was fully exercised, adding 13 million shares representing about 15 percent of the initial offering. The H shares will trade in board lots of 100 shares each on the Main Board of Hong Kong Exchanges and Clearing.

The full exercise of the greenshoe option allows the company to issue an additional 13 million shares at the same offer price, reflecting institutional demand. The initial public offering comprised about 87 million shares before the over-allotment, bringing the total offering to approximately 100 million shares.

Trading is expected to commence at 9 a.m. Hong Kong time on June 5, assuming the global offering becomes unconditional by 8 a.m. that day. The listing on the Main Board gives Dajin access to Hong Kong's capital markets and a broader investor base.

The company has not yet disclosed the specific use of proceeds, cornerstone investor identities, or lead underwriters for the offering. The pricing gives Dajin a market valuation that will be tested when trading begins. First-day trading on June 5 will provide the clearest indication of institutional and retail demand for the shares.

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