futu News on July 12th announced that on Tuesday of this week, $HUZHOU GAS (06661.HK)$announced that the company issued 50 million shares priced at HK$6.08 per share, with a board lot of 500 shares, expected to be listed on July 13th.
In the public offering stage, Huzhou Gas received 8.08 times oversubscription, with the final number of shares allocated under the public offering being 5 million shares, accounting for approximately 10% of the total offering shares (before any exercise of oversubscription rights). A total of 10,630 valid applications were received, with a pro rata successful application rate of 15.01%.
In addition, the international offering was oversubscribed, with the final number of shares offered being 45 million shares, equivalent to approximately 90% of the total offering shares (before any exercise of oversubscription rights). futu News has compiled the relevant data in the table below:
The company plans to use the net proceeds from the global offering of approximately 0.26 billion Hong Kong dollars for the following purposes: about 20.0% for upgrading the company's pipeline network and operational facilities to increase natural gas sales; about 30% for strategically acquiring businesses in other regions; about 30% for expanding into distributed photovoltaic power generation business, about 10% for promoting the use of steam generated by the company's natural gas through natural gas boilers for heating purposes; and about 10% for operating funds and general corporate purposes.
The main business of Huzhou Gas includes selling gas under franchise rights, mainly pipeline natural gas; providing construction and installation services for real estate developers as well as residents...