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joined discussion · Mar 10 07:26

IPO Pricing | Megintell goes public today, over 174 times subscribed, priced at HKD 28.86 per share, with a 5% allocation rate for one lot

Futu News report on March 10$MEIG (03268.HK)$Announced the allocation results: HKD 28.86 per share, issuing a total of 40.25 million shares, 100 shares per lot, officially listed today.
In the last trading session, Meig Intelligent Technology closed up 1.87% in the gray market at HKD 29.4 per share. Each lot consists of 100 shares, and without considering handling fees, a profit of HKD 54 can be made per lot.
During the public offering phase, Meig Intelligent Technology received 174.12 times subscription, with the final number of shares offered to the public amounting to 3.5 million shares, accounting for approximately 8.70% of the total shares issued. A total of around 57,965 valid applications were received, with approximately 15,506 applications processed. The percentage allocation of shares for one-lot subscribers relative to the total applied shares was roughly 5%.
Moreover, during the international placement phase, Meig Intelligent Technology received 4.5 times subscription, with the final number of shares allocated internationally amounting to 36.75 million shares, equivalent to 91.3% of the total shares issued. Futu Information has compiled relevant data in the following table:
Futu News report on March 10$MEIG (03268.HK)$Announced the allocation results: HKD 28.86 per share, issuing a total of 40.25 million shares, 100 shares per lot, officially listed today. On the last trading day, Megintell's grey market closed up 1.87%, at HKD 29.4, 100 shares per lot. Excluding fees, the gain is HKD 54 per lot. In the public offering stage, Megintell received 174.12 times subscription coverage, with the final number of shares allocated in the public offering amounting to 3.5 million shares, representing approximately 8.70% of the total shares offered. A total of approximately 57,965 valid applications were received, of which about 15,506 were processed applications. The allocation percentage for one lot applications was approximately 5% of the total applied shares. In addition, in the international placement stage, Megintell received 4.5 times subscription coverage, and the final number of international placement shares amounted to 36.75 million shares, equivalent to 91.3% of the total shares offered. Futu News has compiled relevant data in the table below: Company Overview MeigSmart is a global leader in wireless communication modules and solutions, with intelligent modules (especially high-performance intelligent modules) as its core focus. Its modules and solutions are widely used in IoT, smart connected vehicles, and wireless broadband fields. Leveraging wireless communication module technology, the company can tailor solutions to meet specific application scenarios, addressing diverse customer needs. Megintell was the first to...
Futu News report on March 10$MEIG (03268.HK)$Announced the allocation results: HKD 28.86 per share, issuing a total of 40.25 million shares, 100 shares per lot, officially listed today. On the last trading day, Megintell's grey market closed up 1.87%, at HKD 29.4, 100 shares per lot. Excluding fees, the gain is HKD 54 per lot. In the public offering stage, Megintell received 174.12 times subscription coverage, with the final number of shares allocated in the public offering amounting to 3.5 million shares, representing approximately 8.70% of the total shares offered. A total of approximately 57,965 valid applications were received, of which about 15,506 were processed applications. The allocation percentage for one lot applications was approximately 5% of the total applied shares. In addition, in the international placement stage, Megintell received 4.5 times subscription coverage, and the final number of international placement shares amounted to 36.75 million shares, equivalent to 91.3% of the total shares offered. Futu News has compiled relevant data in the table below: Company Overview MeigSmart is a global leader in wireless communication modules and solutions, with intelligent modules (especially high-performance intelligent modules) as its core focus. Its modules and solutions are widely used in IoT, smart connected vehicles, and wireless broadband fields. Leveraging wireless communication module technology, the company can tailor solutions to meet specific application scenarios, addressing diverse customer needs. Megintell was the first to...
Company Overview
MeigSmart is a global leader in wireless communication modules and solutions, with intelligent modules (especially high-performance intelligent modules) as its core focus. Its modules and solutions are widely used in IoT, smart connected vehicles, and wireless broadband fields. Leveraging wireless communication module technology, the company can tailor solutions to meet specific application scenarios, addressing diverse customer needs.
MeigSmart was the first to bring intelligent modules to market and has deployed these modules across various industries on a large scale, including point-of-sale systems and automotive vision systems. Through these deployments, the company has accumulated experience in product design and engineering across different usage scenarios, such as ensuring transmission stability and data security in financial payment environments and enabling stable interaction between intelligent modules and external cameras in automotive applications.
Financial Overview
In 2022, 2023, 2024, and the nine months ended September 30, 2024, and 2025, MeiGe Smart's total revenue reached RMB 2,305.9 million, RMB 2,147.3 million, RMB 2,941.4 million, RMB 2,182.0 million, and RMB 2,821.3 million respectively, while the company’s net profits were RMB 126.6 million, RMB 62.6 million, RMB 134.4 million, RMB 90.5 million, and RMB 113.2 million respectively.
In 2022, 2023, 2024, and the nine months ended September 30, 2024, and 2025, the company incurred R&D expenditures of RMB 185.9 million, RMB 213.9 million, RMB 208.1 million, RMB 148.3 million, and RMB 153.1 million respectively, representing 8.1%, 10.0%, 7.1%, 6.8%, and 5.4% of the company’s total revenue respectively.
Source: Prospectus
Source: Prospectus
Use of Proceeds
Regarding the use of proceeds, Meig Intelligent Technology expects net proceeds from the global offering to be approximately HKD 945 million (based on an offer price of HKD 28.86). According to the prospectus, Meig Intelligent Technology intends to allocate the proceeds from the global offering for the following purposes:
Approximately 55% will be used to enhance the company’s R&D and innovation capabilities; about 10% will be allocated to expand the company’s overseas sales network and promote its products in international markets; around 10% will be used for strategic investments and/or acquisitions to achieve the company’s long-term growth strategy; roughly 15% will be used to repay certain interest-bearing bank loans maturing after June 2025 (with interest rates ranging from 1.95% to 2.27%), to optimize the company’s financial structure and reduce borrowing costs; approximately 10% will be allocated for working capital and general corporate purposes.
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Futu News report on March 10$MEIG (03268.HK)$Announced the allocation results: HKD 28.86 per share, issuing a total of 40.25 million shares, 100 shares per lot, officially listed today. On the last trading day, Megintell's grey market closed up 1.87%, at HKD 29.4, 100 shares per lot. Excluding fees, the gain is HKD 54 per lot. In the public offering stage, Megintell received 174.12 times subscription coverage, with the final number of shares allocated in the public offering amounting to 3.5 million shares, representing approximately 8.70% of the total shares offered. A total of approximately 57,965 valid applications were received, of which about 15,506 were processed applications. The allocation percentage for one lot applications was approximately 5% of the total applied shares. In addition, in the international placement stage, Megintell received 4.5 times subscription coverage, and the final number of international placement shares amounted to 36.75 million shares, equivalent to 91.3% of the total shares offered. Futu News has compiled relevant data in the table below: Company Overview MeigSmart is a global leader in wireless communication modules and solutions, with intelligent modules (especially high-performance intelligent modules) as its core focus. Its modules and solutions are widely used in IoT, smart connected vehicles, and wireless broadband fields. Leveraging wireless communication module technology, the company can tailor solutions to meet specific application scenarios, addressing diverse customer needs. Megintell was the first to...
Editor/Vincent
Risk Disclaimer: The above content only represents the author's view. It does not represent any position or investment advice of Futu. Futu makes no representation or warranty.Read more
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