Futu Information reported on August 24, this Wednesday $CTG DUTY-FREE (01880.HK)$Announcement: The company will issue 102,761,900 shares at HK$158 per share, with a board lot of 100 shares, and is expected to be listed on August 25.
In the public offering tranche, China Duty Free Group received 1.06x subscription, with the final number of shares allocated for public offering amounting to 5,138,200 shares, accounting for approximately 5% of the total issued shares (before any exercise of over-allotment option). A total of 5,669 valid applications were received, with a 100% allotment rate for one-lot subscriptions; subscribing for one lot guarantees an allotment.
Additionally, the international offering has been oversubscribed, with the final number of shares amounting to approximately 97,623,700 shares, equivalent to approximately 95% of the total issued shares (before any exercise of over-allotment option). Futu Information compiled related data in the following table:
Regarding the use of proceeds, the company plans to allocate approximately HK$15.892 billion net proceeds from the global offering for the following purposes: about 49.7% for strengthening domestic channels, around 22% for expanding overseas channels, about 13.2% for improving supply chain efficiency, approximately 1.5% for upgrading IT systems, around 3.7% for marketing and further enhancing the membership system, and about 10% for supplementing working capital and other general corporate purposes.
Founded in 1984, China Duty Free Group has grown into the world's largest travel retail operator after nearly 40 years of development, focusing on serving inbound and outbound travelers and mid-to-high-end consumers...