Financial Wire

Sigenergy Technology Nets HK$4.2 Billion in Hong Kong IPO Ahead of Debut

-- Sigenergy Technology (HKG:6656) raised HK$4.19 billion in net proceeds from its initial public offering in Hong Kong.

The offer price was set at HK$324.20 per H-share, according to a Wednesday after-market filing with the Hong Kong Stock Exchange.

The China-based energy storage provider offered 13.6 million H-shares in the global offering.

The Hong Kong public offering was 1,102.05 times subscribed, with a final allocation of 1.4 million shares, representing 10% of the total offering.

The international offering was 31.2 times subscribed, with a final allocation of 12.2 million shares, or 90% of the total offering.

An over-allocation of over 2 million shares was made under the global offering.

Cornerstone investors, including Aranda Investments, Shanghai Lujiazui (Group), Goldman Sachs Asset Management (Hong Kong), HHLR Advisors, Hillhouse Investment Management, UBS Asset Management (Singapore), and AXA Investment Managers UK, were allotted a combined 6.8 million shares, according to the filing.

Sigenergy Technology is scheduled to debut on the Hong Kong bourse on Thursday, April 16.

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