Futu News, December 13, this Monday $SF INTRA-CITY (09699.HK)$ According to the announcement, the company will issue approximately 131 million shares, priced at HK$16.42 per share, and 200 shares per lot. It is expected to be listed on December 14.
At the public sale stage, SF Express Tongcheng was subscribed about 2.93 times. The final number of shares distributed to the public sale was 13.118,200 shares, accounting for about 10% of the total number of shares offered (before any overallotment rights were exercised). A total of 20,741 valid applications were received. The winning rate for the first hand was 50%, and the third round of subscription was stable.
Furthermore, the international offering was slightly oversubscribed. The final number of shares offered was approximately 118 million shares, equivalent to about 90% of the total number of shares offered (before any overallotment rights were exercised). Futu Information collates the relevant data in the following table:
The net proceeds of approximately HK$2,031 billion will be used for the following purposes: approximately 35% is expected to be used for R&D and technical infrastructure; about 20% is expected to expand service coverage, including scenario coverage and geographical coverage, and capacity pool expansion; about 20% is expected to fund potential strategic acquisitions and investments in upstream and downstream businesses in the industry value chain to supplement and expand business operations; about 15% is expected to be used for marketing and brand promotion; and about 10% is expected to be used for working capital and general corporate purposes.
SF Express Tongcheng was initially a division of SF Holdings Group. Since 2019, it has achieved independence and public...