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2026 IPO bonanza! Over 90% of new stocks rose on their debut
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joined discussion · Jan 13 07:47

IPO Pricing | BBSB INTL goes public today, over 10,000x subscribed, priced at HK$0.6 per share; yesterday’s grey market trading saw a profit of HK$8,560 per lot

Futu Insights, January 13th update, $BBSB INTL (08610.HK)$ The allocation results were announced, with shares priced at HK$0.6 each, issuing a total of 125 million shares, with each lot consisting of 4,000 shares; formal listing takes place today.
On the previous trading day, BBSB INTL's grey market closed up 356.67%, at HK$2.74 per share, with each lot consisting of 4,000 shares. Excluding handling fees, one lot generated a profit of HK$8,560.
During the public offering phase, BBSB INTL received 10,745.13 times subscription, with the final number of public offering shares being 12.5 million shares, accounting for approximately 10% of the total offering shares. A total of approximately 145,100 valid applications were received, including 3,125 processed applications. The approximate percentage of shares allocated to applicants subscribing for one lot out of the total applied shares was 0.05%.
In addition, during the international placement phase, BBSB INTL was subscribed 1.01 times, with the final number of international placement shares being 113 million shares, equivalent to 90% of the total offering shares. Futu Information has compiled the relevant data in the table below.
Futu Insights, January 13th update, $BBSB INTL (08610.HK)$ The allocation results were announced, with shares priced at HK$0.6 each, issuing a total of 125 million shares, with each lot consisting of 4,000 shares; formal listing takes place today. In the last trading session, BBSB INTL closed up 356.67% on the grey market, at HK$2.74 per share, with each lot consisting of 4,000 shares. Without considering handling fees, a profit of HK$8,560 per lot was made. During the public offering phase, BBSB INTL received 10,745.13 times subscription, with the final number of shares offered to the public being 12.5 million shares, representing approximately 10% of the total offering. A total of about 145,100 valid applications were received, with 3,125 processed applications. The percentage of shares allocated in one lot relative to the total number of shares applied for is approximately 0.05%. Additionally, during the international placement phase, BBSB INTL received 1.01 times subscription, with the final number of shares in the international offering being 113 million shares, equivalent to 90% of the total offering. Futu Insights has compiled relevant data as shown in the table below: Company Profile BBSB INTL is a civil engineering contractor based in Malaysia with over 16 years of experience, specializing in providing bridge engineering services as a contractor for large-scale transportation infrastructure projects. The company's bridge engineering services mainly involve designing and constructing entire sections or any single or multiple sections of bridges crossing roads and rivers...
Futu Insights, January 13th update, $BBSB INTL (08610.HK)$ The allocation results were announced, with shares priced at HK$0.6 each, issuing a total of 125 million shares, with each lot consisting of 4,000 shares; formal listing takes place today. In the last trading session, BBSB INTL closed up 356.67% on the grey market, at HK$2.74 per share, with each lot consisting of 4,000 shares. Without considering handling fees, a profit of HK$8,560 per lot was made. During the public offering phase, BBSB INTL received 10,745.13 times subscription, with the final number of shares offered to the public being 12.5 million shares, representing approximately 10% of the total offering. A total of about 145,100 valid applications were received, with 3,125 processed applications. The percentage of shares allocated in one lot relative to the total number of shares applied for is approximately 0.05%. Additionally, during the international placement phase, BBSB INTL received 1.01 times subscription, with the final number of shares in the international offering being 113 million shares, equivalent to 90% of the total offering. Futu Insights has compiled relevant data as shown in the table below: Company Profile BBSB INTL is a civil engineering contractor based in Malaysia with over 16 years of experience, specializing in providing bridge engineering services as a contractor for large-scale transportation infrastructure projects. The company's bridge engineering services mainly involve designing and constructing entire sections or any single or multiple sections of bridges crossing roads and rivers...
Company Profile
BBSB INTL is a civil engineering contractor with over 16 years of experience in Malaysia, specializing in providing bridge engineering services for large-scale transportation infrastructure projects. Its bridge engineering services mainly involve designing and constructing entire or multiple sections of large beam bridges spanning roads and rivers with varying structures and spans, as well as constructing highway connections, roads, and ancillary facilities related to bridges. The projects undertaken by the company are primarily initiated or owned by the Malaysian government or government-linked entities and typically involve large-scale and complex beam bridge designs and structures.
The company generally engages subcontractors for labor-intensive tasks such as reinforced concrete structural work, beam casting, and road facility construction, as well as specialized technical tasks like bored piling, soil investigation, environmental engineering, earthworks, and geotechnical engineering. The company considers maintaining internal capabilities for these tasks to be too costly. By engaging subcontractors, the directors believe the company can focus its internal resources on project management and oversight, quality assurance, and providing comprehensive value engineering services to clients.
Financial Overview
For the fiscal years 2023, 2024, the first six months of 2024, and the first six months of 2025, BBSB INTL recorded revenues of approximately MYR 76.8 million, MYR 133.0 million, MYR 69.8 million, and MYR 74.0 million, respectively. In fiscal year 2023, BBSB INTL incurred a net loss of approximately MYR 14.5 million, while in fiscal year 2024, the first six months of 2024, and the first six months of 2025, it recorded net profits of approximately MYR 26.2 million, MYR 12.1 million, and MYR 3.2 million, respectively.
Futu Insights, January 13th update, $BBSB INTL (08610.HK)$ The allocation results were announced, with shares priced at HK$0.6 each, issuing a total of 125 million shares, with each lot consisting of 4,000 shares; formal listing takes place today. In the last trading session, BBSB INTL closed up 356.67% on the grey market, at HK$2.74 per share, with each lot consisting of 4,000 shares. Without considering handling fees, a profit of HK$8,560 per lot was made. During the public offering phase, BBSB INTL received 10,745.13 times subscription, with the final number of shares offered to the public being 12.5 million shares, representing approximately 10% of the total offering. A total of about 145,100 valid applications were received, with 3,125 processed applications. The percentage of shares allocated in one lot relative to the total number of shares applied for is approximately 0.05%. Additionally, during the international placement phase, BBSB INTL received 1.01 times subscription, with the final number of shares in the international offering being 113 million shares, equivalent to 90% of the total offering. Futu Insights has compiled relevant data as shown in the table below: Company Profile BBSB INTL is a civil engineering contractor based in Malaysia with over 16 years of experience, specializing in providing bridge engineering services as a contractor for large-scale transportation infrastructure projects. The company's bridge engineering services mainly involve designing and constructing entire sections or any single or multiple sections of bridges crossing roads and rivers...
Use of Proceeds
Regarding the use of proceeds, BBSB INTL expects net proceeds from the global offering to be approximately HK$50 million (based on an issue price of HK$0.6). According to the prospectus, BBSB INTL intends to allocate the proceeds raised from the global offering for the following purposes:
Approximately 65.2% will be used to strengthen the company's financial position to cover upfront costs, including subcontracting costs, material costs, and machine rental costs, as well as the upfront expenses for hiring additional project managers to support the company’s business expansion. Approximately 19.8% will be allocated to expand the workforce to facilitate regional growth. Around 5% will be dedicated to upgrading and digitizing information systems and internal processes. The remaining approximately 10% will serve as general working capital for the company.
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Futu Insights, January 13th update, $BBSB INTL (08610.HK)$ The allocation results were announced, with shares priced at HK$0.6 each, issuing a total of 125 million shares, with each lot consisting of 4,000 shares; formal listing takes place today. In the last trading session, BBSB INTL closed up 356.67% on the grey market, at HK$2.74 per share, with each lot consisting of 4,000 shares. Without considering handling fees, a profit of HK$8,560 per lot was made. During the public offering phase, BBSB INTL received 10,745.13 times subscription, with the final number of shares offered to the public being 12.5 million shares, representing approximately 10% of the total offering. A total of about 145,100 valid applications were received, with 3,125 processed applications. The percentage of shares allocated in one lot relative to the total number of shares applied for is approximately 0.05%. Additionally, during the international placement phase, BBSB INTL received 1.01 times subscription, with the final number of shares in the international offering being 113 million shares, equivalent to 90% of the total offering. Futu Insights has compiled relevant data as shown in the table below: Company Profile BBSB INTL is a civil engineering contractor based in Malaysia with over 16 years of experience, specializing in providing bridge engineering services as a contractor for large-scale transportation infrastructure projects. The company's bridge engineering services mainly involve designing and constructing entire sections or any single or multiple sections of bridges crossing roads and rivers...
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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