BRIEF: FS.com launches $213 million Hong Kong IPO
Online DTC networking solutions provider FS.com Ltd. (3355.HK) launched its Hong Kong public offering on Friday. The company aims to sell 40 million shares for up to HK$41.60 apiece, with shares available in board lots of 100 each for about HK$4,200 per lot. The listing will raise HK$1.66 billion ($213 million), with subscriptions set to close on March 18 and trading set to commence on March 23.
The company offers one-stop networking solutions, including high-performance network equipment and scalable network device operations systems, alongside cloud-based network management platforms. Its clientele spans the information technology, financial services, healthcare, education, automotive and electronics sectors.
The company reported revenue of 2.18 billion yuan in the first nine months of last year, up 11.3% from the year-ago period. Its profit during the period totaled 423 million yuan, up 20.6% year-on-year.
By Lau Chi Hang
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