Numans Health Food Holdings (HKG:2530) raised HK$120.5 million in net proceeds from its Hong Kong initial public offering after pricing the shares at the bottom end of the indicative price range.

The nutritional products company issued 250,000,000 shares at HK$0.80 apiece, the bottom end of its guidance of as high as HK$1.09 each, according to a Thursday disclosure.

The deal's Hong Kong or public offering portion was 65.17 times subscribed, leading the firm to reallocate 75,000,000 shares from the international placing, upsizing the number shares offered under the public offering to 100 million.

The international or placing shares were 1.03 times subscribed, and the firm issued 150 million shares down, from 225 million after the reallocation.

Numans Health Food will debut on the Hong Kong bourse on Friday, Jan. 10.