Futu News, February 17, this Thursday $HUITONGDA NET (09878.HK)$The announcement announced that the company will issue 51.6062 million shares, priced at HK$43 per share, and 100 shares per lot. It is expected to go public on February 18.
During the public offering phase, Huitongda Network received 1.67 times more subscriptions. The final number of shares offered distributed to the public sale was 5.167,700 shares, accounting for about 10% of the total number of shares offered (before any over-allotment rights were exercised). A total of 10,896 valid applications were received, with a first-hand winning rate of 43.91%, and a steady stream of 3 subscriptions.
Furthermore, the international offering has been slightly oversubscribed, and the final number of shares offered was about 464.45,500 shares, which is equivalent to about 90% of the total number of shares offered (before any over-allotment rights are exercised). Futu News has compiled relevant data in the following table:
The company's net proceeds of approximately HK$2.1 billion (assuming no overallotment rights are exercised) will be used for the following purposes: approximately 30% will be used to strengthen relationships with existing customers and further expand the company's customer base; approximately 25% will be used to optimize the capacity and efficiency of the company's supply chain;, approximately 20% will be used to increase investment in IT infrastructure of the company's platform and enhance the profitability of the SaaS+ business in stores; and approximately 15% will be used for selective strategic cooperation, investment or acquisition with the following participants. About 10% will be used as working capital.
Huitongda Network is a service for enterprise customers in the retail industry in declining markets...