Breton Technology (HKG:1333) raised HK$147.8 million in net proceeds from its initial public offering in Hong Kong.
The electric-powered engineering machinery company issued 13 million shares at HK$18 apiece, according to a late Tuesday filing with the Hong Kong bourse.
The deal's Hong Kong public offering portion was 198.72 times subscribed, prompting the company to issue 2.6 million shares, double the 1.3 million shares initially allotted.
The international offering portion was 0.92 times subscribed, and the firm issued 10.4 million shares, lower than the initial allocation of 11.7 million.
Sunwoda Electronic (SHE:300207) unit HongKong Xinwei Electronic and Changfeng Growth Equity Fund were cornerstone investors in the listing. They subscribed to a total of 3.5 million IPO shares.
Breton Technology starts trading on the Hong Kong bourse today, May 7.
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