Mao Geping Cosmetics (HKG:1318) raised HK$2.19 billion in net proceeds from its Hong Kong initial public offering after pricing the shares at the upper limit of its indicative price range.
The cosmetics firm issued 78,423,400 shares at HK$29.80 apiece, the top end of its guidance of as low as HK$26.30 each, according to a Monday's disclosure. Mao Geping Cosmetics has partially exercised the offer size adjustment option to issue and allot an additional 7,835,200 shares at the final offer price.
The deal's Hong Kong or public offering portion was 919.18x oversubscribed, prompting the company to reallocate 28.2 million shares from the international offering, taking the total tally of Hong Kong shares to 39.2 million shares.
The international or placing shares were 30.34x oversubscribed, and the firm issued 39.2 million shares.
The MAO Geping Cosmetics will begin trading Tuesday, Dec. 10.
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