Futu News on December 29th announced that this Wednesday... $SENSETIME-W (00020.HK)$Announcement: The company issues 1.5 billion shares, priced at HK$3.85 per share, with a board lot of 1000 shares, expected to be listed on December 30th.
During the public offering phase, SenseTime-W received approximately 5.18 times oversubscription. The final number of shares allocated to the public offering is 0.15 billion shares, accounting for 10% of the total shares offered (before any exercise of the over-allotment option). A total of 36,009 valid applications were received, with a 60% allotment rate for one board lot, allowing the subscription of 2 lots with 1 lot in reserve.
In addition, the international offering has been oversubscribed, with the final number of shares offered being 1.35 billion shares, equivalent to 90% of the total shares offered (before any exercise of the over-allotment option). Futu News has compiled the relevant data as shown in the table below:
The company plans to use the net proceeds from the global offering of approximately 5.552 billion Hong Kong dollars for the following purposes: about 60% will be used to enhance the company's R&D capabilities; about 15% will be allocated to invest in emerging business opportunities, as well as to increase the adoption and penetration of company products and services in various vertical industries and enterprises domestically and internationally; about 15% will be used to seek strategic investment and acquisition opportunities to implement long-term development strategies for the development and penetration of company products and services, and to nurture a dynamic artificial intelligence ecosystem to further expand its influence in the industry; about 10% will be used for working capital and general corporate purposes.
SenseTime is a company focused on artificial intelligence technology and its industrial application.