Guangdong Adway Construction (06189), one of the building decoration services suppliers, will be listed on November 25. It is traded in black market price on November 24 and is of the early part of the rise. The transaction Po shows 1.9% higher than open offering price 5.3 Hong Kong dollars. It is offered 5.28 Hong Kong dollars, a 1.54% rise with turnover of 847,000 Hong Kong dollars until 16:51 PM.
Adway Construction Group issued 52.763 million shares. The offer price has been determined at 5.20 HKD per share(the same unit below); 500 shares per lot.
The Hong Kong Public Offering has been moderately oversubscribed and oversold by 2.07 times. In addition, the International Placing has been slightly over-subscribed. The final number of the International Placing Offer Shares is 47.486 million H Shares, representing approximately 90% of the total number of offer shares under the global offering (prior to the exercise of any over-allotment option).
Net funds from global offering is approximately 225 million HKD, of which 34.8% will be used for the establishment of an internal supply chain management platform online; of which 20.0% will be used to further expand the geographical scope of services and optimize the branch network; of which 15.3% will be used to improve and upgrade the internal integrated information technology infrastructure for business management.
Besides, 13.3% will be used to strengthen research and development capabilities and the establishment of research and design laboratories; 6.8% will be used for upgrading the company's design system, recruiting more design expert and improving the synergy of new research and design laboratories. And 9.8% is to be used for operation and general corporate purposes.