Futu News reported on June 21, this Tuesday$Meiyin Gene (06667.HK)$Announced that the company is issuing 11.9618 million shares at HKD 18 per share, with each lot consisting of 200 shares, and is expected to be listed on June 22.
During the public offering phase, Meiyin Gene received approximately 9.62 times the subscription. The final number of shares allocated to the public offering was 1.1962 million shares, accounting for approximately 10% of the total offering (before any exercise of the over-allotment option). A total of 9,206 valid applications were received,
In addition, the international offering was oversubscribed, with the final number of shares offered being 10.7656 million shares, equivalent to approximately 90% of the total offering (before any exercise of the over-allotment option). Futu News has compiled the relevant data in the table below:
At the issue price of HKD 18.00 per share, the net proceeds from the global offering are estimated to be approximately HKD 153.4 million (assuming no exercise of the over-allotment option) and will be used for the following purposes: (i) Approximately 30% for sales, marketing, and commercialization of consumer-grade genetic testing and cancer screening services and products. (ii) Approximately 25% will be invested in research and development services and products. (iii) Approximately 20% will be used to increase or expand testing capabilities and capacity. (iv) Approximately 15% will be used to invest in or acquire attractive technology or testing-related companies that are complementary and synergistic to the company's existing business. (v) Approximately 10% will be used for working capital and other purposes.
Meiyin Gene is a leading gene testing platform in China...