Futu News, March 30, this Wednesday $REDCO HEALTHY (02370.HK)$An announcement was issued. The company issued 50 million shares, priced at HK$4.1 per share, and 500 shares per lot. It is expected to be listed on March 31.
During the public sale phase, Ligao Health Life was subscribed about 1.99 times. The final number of shares distributed up to the public sale was 5 million shares, accounting for about 10% of the total number of shares offered (before any overallotment rights were exercised). A total of 1,671 valid applications were received. The first-hand winning rate was 48.62%, and the first-hand subscription was stable.
Furthermore, the international offering was slightly oversubscribed (about 1.14 times), and the final number of shares offered was 45 million shares, equivalent to about 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$156 million will be used for the following purposes: about 55% will be used to seek selective strategic investment and acquisition opportunities to further expand the scale and geographical coverage of the business and expand the service portfolio; about 15% will be used to upgrade IT infrastructure and enhance smart community management; about 10% will be used to enhance lifestyle management services to enhance customer experience and satisfaction; about 10% will be used to expand community health services as health stewards; and about 10% will be used for general business purposes and working capital as the company continues to expand its business scope and scale.
According to...