News from Futu Information on April 28, this Thursday $DOWELL SERVICE (02352.HK)$According to the announcement, the company issued 16.6667 million shares, priced at HK$11.9 per share, and 200 shares per lot. It is expected to be listed on April 29.
Higashihara Hitoshi Service received about 4.35 times more subscriptions during the public offering phase, and the final number of shares to be sold was 1,6668 million shares, accounting for about 10% of the total number of shares sold (before any overallotment rights were exercised). A total of 4,379 valid applications were received, with a first-hand winning rate of 17.85%, and a steady one-off of 6 subscriptions.
Furthermore, the international sale was slightly oversubscribed (about 1.56 times), and the final number of shares sold was 14.9999 million shares, equivalent to about 90% of the total number of shares offered (before any overallotment rights were exercised). The relevant data compiled by Futu Information is as follows:
In terms of fund-raising purposes, the company's net proceeds of approximately HK$136 million (assuming no over-allotment rights have been exercised) will be used for the following purposes: about 65% will expand the company's property portfolio and business scale through strategic investment, cooperation and acquisitions, about 16.5% will be used to improve service quality and expand the scope of services along the property management value chain, about 8.50% will be used to upgrade and develop the company's intelligent systems, and about 10% will be used as general working capital.
Higashihara Hitoshi Service is a property management service provider with a long history, providing many things in China...