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Jinghong Xuchuang: The highest issue price for the Hong Kong listing will not exceed HK$1,010 per share, with total maximum financing of about $7 billion

MeNews
ME News, July 22 (UTC+8): Global optical module leader and the largest weighted stock in the CSI 300, MEECO Xuchuang, announced that it will issue 54.5 million shares in Hong Kong at a maximum offer price of HK$1,010 per share. The maximum amount to be raised is expected to reach HK$55 billion (equivalent to $7 billion), and trading will begin on July 30. Goldman Sachs, CICC, Morgan Stanley, and GF Securities will serve as joint lead managers and underwriters. Yesterday, insiders said that BlackRock, Hillhouse, and Temasek are likely to become cornerstone investors for MEECO Xuchuang’s Hong Kong listing and trading. Investment institutions such as Scopia Capital, Morgan Asset Management, Wellington Management Co., and Yunfeng Fund also plan to participate as cornerstone investors in the deal, and these cornerstone investors are expected to subscribe for nearly half of the shares. MEECO Xuchuang plans to begin accepting investor subscriptions as early as today, which is expected to become the largest stock issuance transaction in Hong Kong in seven years. (Source: BlockBeats)
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