Transwarp Technology Nets HK$686.5 Million in Hong Kong IPO

MT Newswires Live
Sep 21

Transwarp Technology (Shanghai) (HKG:6727, SHA:688031) is set to receive HK$686.5 million in net proceeds from its initial public offering in Hong Kong after pricing shares within the previously provided price band.

The enterprise AI software company priced 14 million H-shares at HK$49 apiece, which is at the low end of its guidance range of up to HK$61, according to a Friday bourse filing.

The Hong Kong public offering was 73.86 times subscribed, with 2.8 million shares allocated, while the international offering was 1.42 times subscribed, with 11.2 million shares allocated.

Cornerstone investors were allotted 1.5 million shares, representing 10.75% of the IPO shares.

Transwarp is set to debut on the Hong Kong bourse on Monday, Sept. 21.

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