Zejing Shares Oversubscribed 68.89x in Hong Kong IPO, Set to List on HKEX March 24

Jiangsu Zejing Automotive Electronics Co., Ltd. (Stock Code: 2632) has announced the results of its global offering, with the final offer price set at HK$44.20 per share, slightly below the originally indicated upper limit of HK$48.00. The company is scheduled to officially list on the Hong Kong Stock Exchange on March 24. The global offering comprises a total of 16,226,500 H-shares, of which the Hong Kong public offering portion was oversubscribed by 68.89 times, while the international offering accounts for the majority of the remaining shares. Based on the offer price, the company expects to raise approximately HK$717 million in gross proceeds. After deducting estimated listing expenses of approximately HK$68 million, the net proceeds will amount to around HK$650 million.