GuangHe Technology (1989) Hong Kong Public Offering Subscription 1070.72 Times Oversubscribed, Scheduled to List on March 20, 2026

MaticHoleFiller · 2026-03-20T10:22:54+00:00

Guanghe Technology announced the results of its global offering with a final issue price of HK$71.88 per share, raising approximately HK$3.31 billion. The Hong Kong public offering subscription multiple was 1,070.72 times, while the international offering was 14.64 times. Multiple cornerstone investors participated, collectively acquiring 44.94% of the shares. H shares are expected to be listed on March 20, 2026.

MaticHoleFiller

2026-03-20 10:22:54

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Guanghe Technology announced the final results of its global offering. The company’s final offering price was set at HKD 71.88 per share, which is the upper limit of the original offering range. A total of 46,000,000 H-shares were offered globally, including 4,600,000 shares in the Hong Kong public offering and 41,400,000 shares in the international offering. No over-allotment option was granted for this offering. Based on the final price, the total funds raised amount to approximately HKD 3.31 billion. After deducting estimated listing expenses of HKD 121 million, the net proceeds are approximately HKD 3.19 billion.

Regarding subscription, the Hong Kong public offering received 202,417 valid applications, with 39,425 applications finally accepted, resulting in a subscription multiple of 1,070.72 times. For the international offering, 162 investors participated, with a subscription multiple of 14.64 times. Despite strong demand in the Hong Kong public offering, the announcement indicated that the over-allotment mechanism was not triggered, so the number of shares allocated to the Hong Kong public offering remains at 4,600,000 shares, representing 10.00% of the total global offering. The international offering shares remain at 41,400,000, accounting for 90.00% of the total.

Regarding cornerstone investors, several participated in this global offering, including Yuanfeng Fund Management Limited, Yuanfeng Asset Management, Guotai Junan Investment (for Yuanfeng OTC swaps), Shanghai Jinglin, CITIC Securities International Capital Management Limited, UBS Asset Management (Singapore) Ltd., Greater Bay Area Development Fund Management Limited, MY Asian Opportunities Master Fund, L.P., Baring Asset Management (Asia) Limited, Dajia Life Insurance Co., Ltd., and ICBC Wealth Management Co., Ltd., among others. Cornerstone investors were allocated a total of 20,674,500 shares, representing 44.94% of the total global offering shares and 4.38% of the total issued share capital after the offering.

The sponsor for this global offering is CITIC Securities. Guanghe Technology’s H-shares are expected to begin trading on the Hong Kong Stock Exchange on March 20, 2026, under stock code 1989.

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