BRIEF: Xiaocaiyuan opens up 5.9% in Hong Kong trading debut

0999.HK
consumers are Xiaomi's target

Budget restaurant chain operator Xiaocaiyuan (0999.HK) opened up 5.9% in its trading debut on Friday in Hong Kong from its offer price of HK$8.50. Based on a lot size of 800 shares, investors who purchased at the IPO price and sold based on the opening price earned HK$400 per lot before fees.

Xiaocaiyuan announced it sold 101 million shares to raise HK$795 million ($102.3 million), with 10% allocated to local Hong Kong investors and 90% to international investors. The Hong Kong portion was 1.44 times oversubscribed, while the international offering was 1.29 times oversubscribed.

The company plans to use approximately 40% of the net proceeds to expand its store network, 37% to enhance supply chain capabilities, 13% to upgrade smart equipment and digital systems, and the remainder for general corporate purposes. Xiaocaiyuan’s stock held on to most of their gains in the morning session and closed up 4.5% at HK$8.88 by the midday break on Friday.

By Lee Shih Ta

To subscribe to Bamboo Works weekly free newsletter, click here

,
, ,

Related Articles

RELATED ARTICLES

  1. Xiaocaiyuan gets ready to list in Hong Kong
    Xiaocaiyuan sets the table for Hong Kong IPO. But is the timing right?
    0999.HK
  2. An ‘Old Hen’-turned-chic chick flocks to Hong Kong for IPO
  3. BRIEF: Xiaocaiyuan’s revenue rises on surging deliveries
    0999.HK
  4. BRIEF: Chifeng Gold opens flat in Hong Kong trading debut
    6693.HK
  5. BRIEF: BrainAurora opens flat in Hong Kong trading debut
    6681.HK
  6. BRIEF: Dobot opens up 4.8% in Hong Kong trading debut
    2432.HK
  7. BRIEF: Mixue surges on Hong Kong trading debut
    2097.HK
Discover hidden China stock gems in our weekly newsletter

Follow us

Facebook Twitter Linkedin Weixin Weibo Youtube

Subscribe to Our Free eNewsletter

Subscribe

Check out our content with some of our syndication partners

factiva

Recent Articles

Illustration of the rebound of Chinese fintech lenders

A fintech lender rebound, and a hotel mess

Fintech lenders are entering a new golden era, with Jiayin reporting 46% growth for its core consumer lending business in last year's fourth quarter and forecasting similar gains this year. What's driving this rebound? And hotelier H World is still trying to fix a German acquisition from 2019 that wiped out its profit in the fourth quarter of last year. Will the Chinese hotelier be able to turn around this money-losing offshore asset?
JFIN.US HTHT.US