AuGroup (SHENZHEN) Cross-Border Business (HKG:2519) raised HK$387.5 million in net proceeds from its Hong Kong initial public offering after pricing the shares at the upper limit of its indicative price range.
The online retailer issued 29,894,700 shares at HK$15.60 apiece, the top end of its guidance of as low as HK$14.56 each, according to a Thursday disclosure.
The Hong Kong or public offering portion of the deal was 17.74x oversubscribed, prompting the company to issue about 9 million shares, following the reallocation of about 6 million shares from the international offering.
The international or placing shares were 2.45x oversubscribed, and the firm issued 20.9 million shares.
AuGroup (SHENZHEN) Cross-Border Business will start trading on the Hong Kong bourse today, Nov. 8.
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