Dahon Tech (Shenzhen) (HKG:2543) raised HK$342.2 million in net proceeds from its initial public offering in Hong Kong, according to a Monday after-market bourse filing.

The China-based folding bicycle retailer priced its 7,920,000 H-shares at HK$49.50 each.

The Hong Kong public offer was 7,558.40 times oversubscribed, with the final allocation of 792,000 shares, or 10% of the total offering, unchanged from the initial allotment.

The international offering was 21.65 times subscribed, with the final allocation of 7,128,000 shares, or 90% of the total offering, also unchanged.

An over-allotment of 1,180,000 shares was made under the international tranche.

Cornerstone investors Allianz Global Investors Asia Pacific, Greater Bay Area Development Fund Management, Harvest International Premium Value Fund, and Veken (Hong Kong) Economic and Trade were allotted a combined 2,013,800 shares, or about 25.4% of the global offering.

Dahon Tech is scheduled to debut on the Hong Kong bourse on Tuesday, Sept. 9.