Futu News, December 7, this Tuesday $WB-SW (09898.HK)$An announcement was issued. The company will issue 11 million shares, priced at HK$272.8 per share, with 20 shares per lot. It is expected to be listed on December 8.
According to Monday $Weibo (WB.US)$Calculating the closing price of US stocks at $31.98, the equivalent price of Hong Kong stocks was about HK$249.5, which is 8.55% off the price of Hong Kong stocks of HK$272.8.
During the public sale phase, Weibo was subscribed about 2.67 times, and the final number of shares offered up to the public sale was 1.1 million shares, accounting for 10% of the total number of shares offered (before any over-allotment rights were exercised). A total of 11,189 valid applications were received, with a winning rate of 47.24% for the first round, and the third round of subscription was successful.
Furthermore, the international offering was oversubscribed, and the final number of shares offered was 9.9 million shares, equivalent to 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$1,383 billion will be used for the following purposes: approximately 45% to continuously expand the user base and enhance user engagement, and improve the content ecosystem; approximately 25% for R&D to enhance user experience and monetization capabilities; approximately 20% to selectively seek strategic alliances, investments and acquisitions; and approximately 10% for working capital and general corporate purposes.
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