Complete the IPO process Shanghai advanced semiconductor HK $1.6 pricing

According to Hongkong market news last week, the completion of the Shanghai advanced semiconductor IPO program (3355.HK) before the date determined to 1.6 Hong Kong dollar pricing, which is equivalent to the number of strokes among the 1.36 price range to HK $1.85, to raise funds of HK $650 million, equivalent to 1.4 times the book value of last year.

It is understood that the part of the international placing and public offering were 12 times and 13 times subscription. International placing, the United States and Asian investors accounted for 40%, the remaining 20% from europe.

For the stock not as other shares as a huge oversubscription, the market believes that another mainland semiconductor manufacturers SMIC (0981.HK) listed so far sluggish stock price, investors will inevitably reflect on related industries of new cold talk. In addition, the company last year, a loss of 75 million yuan, but also one of the reasons for the IPO is not ideal.

The company issued 406 million shares of H shares, accounting for the expansion of the total share capital of 27.5%, the main purpose of raising funds to repay debt and pay capital expenditures.