Lingyi iTech Debuts in Hong Kong After Raising HK$8.3 Billion at Top-End Price
Updated
Updated · Bloomberg · Jun 25
Lingyi iTech Debuts in Hong Kong After Raising HK$8.3 Billion at Top-End Price
3 articles · Updated · Bloomberg · Jun 25
Summary
HK$8.3 billion raised by Lingyi iTech set up the Apple supplier’s Hong Kong trading debut on Friday, adding to the city’s busiest month for listings this year.
HK$10.18 per share was the final price — the top of the marketed range — with cornerstone backing from GF Fund Management, Qube Research & Technologies and Value Partners.
Gray-market trading pointed to strong demand, with the stock jumping as much as 22% on Thursday ahead of the formal debut.
The Hong Kong offer still came at a 51% discount to Lingyi’s Shenzhen-listed shares, underscoring the pricing gap used to attract investors.