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2026 IPO bonanza! Over 90% of new stocks rose on their debut
牛牛新股君
joined discussion · Feb 10 07:50

IPO Pricing | Lexin Outdoor debuts today with over 3,600 times subscription, priced at HKD 12.25 per share, earning HKD 6,115 per lot in the grey market

Futu Information reported on February 10 $RIDGE OUTDOOR (02720.HK)$ Announced the allocation results: priced at HKD 12.25 per share, with a total of 28.205 million shares issued, each lot comprising 500 shares, officially listed today
In the previous trading session, Lexin Outdoor's grey market closed up 99.84% at HKD 24.48. Each lot consists of 500 shares, and excluding handling fees, a single lot generated a profit of HKD 6,115.
During the public offering phase, Lexin Outdoor received 3,654.23 times subscription. The final number of shares offered to the public was 2.8205 million shares, accounting for approximately 10% of the total offering. A total of approximately 111,000 valid applications were received, with around 5,641 accepted applications. The percentage of shares allocated to one-lot subscribers compared to the total number of shares applied for is approximately 1%.
In addition, during the international placement phase, Lexin Outdoor was 2.94 times subscribed. The final number of shares in the international offering was 25.3845 million shares, representing 90% of the total offering. Futu Information has compiled the relevant data in the table below:
Futu Information reported on February 10 $RIDGE OUTDOOR (02720.HK)$ Announced the allocation results: priced at HKD 12.25 per share, with a total of 28.205 million shares issued, each lot comprising 500 shares, officially listed today In the last trading session, Lexin Outdoor's grey market price closed up 99.84%, at HKD 24.48 per share, with each lot consisting of 500 shares. Excluding handling fees, investors earned HKD 6,115 per lot During the public offering phase, Lexin Outdoor received subscriptions 3,654.23 times the number of shares offered. The final number of shares allocated in the public offering was 2.8205 million, accounting for approximately 10% of the total shares offered. A total of about 111,000 valid applications were received, with around 5,641 processed applications. The percentage of shares allocated for one-lot subscribers relative to the total applied shares was approximately 1% Additionally, during the international placement phase, Lexin Outdoor received subscriptions 2.94 times the number of shares offered. The final number of shares allocated internationally was 25.3845 million, representing 90% of the total shares offered. Futu Information has compiled relevant data in the table below Company Overview Lexin Outdoor is a global leader in the fishing gear industry. Over the past 30 years, the company has built a diversified portfolio of high-quality products centered on fishing gear, supported by product design and development, supply chain, and quality control, establishing a strong competitive moat in the fishing gear sector. As a mature global fishing gear manufacturer, the company leverages extensive market insights...
Futu Information reported on February 10 $RIDGE OUTDOOR (02720.HK)$ Announced the allocation results: priced at HKD 12.25 per share, with a total of 28.205 million shares issued, each lot comprising 500 shares, officially listed today In the last trading session, Lexin Outdoor's grey market price closed up 99.84%, at HKD 24.48 per share, with each lot consisting of 500 shares. Excluding handling fees, investors earned HKD 6,115 per lot During the public offering phase, Lexin Outdoor received subscriptions 3,654.23 times the number of shares offered. The final number of shares allocated in the public offering was 2.8205 million, accounting for approximately 10% of the total shares offered. A total of about 111,000 valid applications were received, with around 5,641 processed applications. The percentage of shares allocated for one-lot subscribers relative to the total applied shares was approximately 1% Additionally, during the international placement phase, Lexin Outdoor received subscriptions 2.94 times the number of shares offered. The final number of shares allocated internationally was 25.3845 million, representing 90% of the total shares offered. Futu Information has compiled relevant data in the table below Company Overview Lexin Outdoor is a global leader in the fishing gear industry. Over the past 30 years, the company has built a diversified portfolio of high-quality products centered on fishing gear, supported by product design and development, supply chain, and quality control, establishing a strong competitive moat in the fishing gear sector. As a mature global fishing gear manufacturer, the company leverages extensive market insights...
Company Overview
Lexin Outdoor is a global leader in the fishing gear industry. Over the past 30 years, the company has focused on fishing gear as its core business, building a diversified portfolio of high-quality products based on product design and development, supply chain, and quality control, creating a strong competitive edge in the fishing gear market. As a well-established global manufacturer of fishing gear, the company is able to seize market opportunities through extensive market insights and resources.
With over 30 years of deep involvement in the fishing gear industry, the company has accumulated rich market insights and strategically expanded its own brand business. In 2017, the company acquired Solar, a well-known UK carp fishing brand. Established in 1987, Solar is one of the oldest carp fishing brands in the UK. With the company's full support, Solar's sales in 2024 grew to about three times that of 2018.
Lexin Outdoor has established long-term and stable cooperative relationships with globally renowned outdoor products brands, particularly fishing tackle brands. The company's customer network includes globally renowned outdoor products retailers such as Decathlon, globally recognized fishing brands like Rapala VMC and Pure Fishing, prominent UK fishing brands such as Fox, Nash, Trakker, and Preston, as well as well-known US outdoor products companies like Ardisam.
Financial Overview
In 2022, 2023, and 2024, and for the eight months ended August 31, 2024, and 2025, Lexin Outdoor's total revenue was RMB 818.4 million, RMB 463.3 million, RMB 573.5 million, RMB 391.0 million, and RMB 460.3 million, respectively. The company's gross profit during each period was RMB 190.1 million, RMB 123.2 million, RMB 152.7 million, RMB 102.5 million, and RMB 127.5 million, respectively.
Source: Prospectus
Source: Prospectus
Use of Proceeds
Regarding the use of proceeds, Lexin Outdoor expects net proceeds from the global offering to be approximately HKD 285 million (based on an offer price of HKD 12.25). According to the prospectus, Lexin Outdoor plans to use the proceeds from the global offering for the following purposes:
Approximately 45% will be used for brand development and promotion; around 25% will be allocated for product design and development, as well as establishing a global fishing tackle innovation center; about 20% will be utilized for upgrading production facilities and enhancing the company's digital capabilities; roughly 10% will serve as working capital and for general corporate purposes.
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Futu Information reported on February 10 $RIDGE OUTDOOR (02720.HK)$ Announced the allocation results: priced at HKD 12.25 per share, with a total of 28.205 million shares issued, each lot comprising 500 shares, officially listed today In the last trading session, Lexin Outdoor's grey market price closed up 99.84%, at HKD 24.48 per share, with each lot consisting of 500 shares. Excluding handling fees, investors earned HKD 6,115 per lot During the public offering phase, Lexin Outdoor received subscriptions 3,654.23 times the number of shares offered. The final number of shares allocated in the public offering was 2.8205 million, accounting for approximately 10% of the total shares offered. A total of about 111,000 valid applications were received, with around 5,641 processed applications. The percentage of shares allocated for one-lot subscribers relative to the total applied shares was approximately 1% Additionally, during the international placement phase, Lexin Outdoor received subscriptions 2.94 times the number of shares offered. The final number of shares allocated internationally was 25.3845 million, representing 90% of the total shares offered. Futu Information has compiled relevant data in the table below Company Overview Lexin Outdoor is a global leader in the fishing gear industry. Over the past 30 years, the company has built a diversified portfolio of high-quality products centered on fishing gear, supported by product design and development, supply chain, and quality control, establishing a strong competitive moat in the fishing gear sector. As a mature global fishing gear manufacturer, the company leverages extensive market insights...
Editor/Joe
Risk Disclaimer: The above content only represents the author's view. It does not represent any position or investment advice of Futu. Futu makes no representation or warranty.Read more
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