Futu News, December 15, this Wednesday $CONANT OPTICAL (02276.HK)$ The announcement announced that the company will issue 121.6 million shares, priced at HK$4.46 per share, and 500 shares per lot. It is expected to go public on December 16.
During the public offering phase, Connett Optics received approximately 1.78 times more subscriptions. The final number of shares offered for sale was 12.16 million shares, accounting for 10% of the total number of shares offered (before any over-allotment rights were exercised). A total of 7,610 valid applications were received. The first-hand winning rate was 50.38%, and the two-hand subscription was stable.
Furthermore, the international offering was slightly oversubscribed. The final number of shares offered was approximately 109 million shares, equivalent to 90% of the total number of shares offered (before any overallotment rights were exercised). Futu Information collates relevant data in the following table:
The net proceeds of approximately HK$474 million will be used for the following purposes: about 46.4% will be used to increase the production capacity of the Shanghai production base and the Jiangsu production base; about 19.9% will be used to strengthen the company's R&D capabilities; about 10.3% will be used to increase the company's sales and marketing efforts; about 10.0% will be used for working capital and general corporate purposes; about 8.1% will be used for technology to improve production efficiency and processes; and about 5.3% will be used to repay outstanding bank loans. Such loans will mainly be used to allocate working capital to support business operations.
Conet Optics is a leading manufacturer of resin eyeglass lenses in China...