“New Shares” SF Holdings (06936.HK) will start its IPO today with an entry fee of NT$7,333.22 for the first lot. It will introduce investors such as Sino Land and Xiaomi AASTOCKS Financial News – Hot News
- Public offerings in Hong Kong will make up 9.5% of the total, while international offerings will comprise 90.5%.
- The IPO process began today, October 19, and will end at noon on Friday, October 22.
- These include Oaktree, Sino Land (00083.HK), China Pacific Insurance (02601.HK), and Xiaomi (01810.HK).
SF Holding’s IPO Details
SF Express Holdings (06936.HK) launched its IPO today. The company plans to sell 170 million shares globally. Public offerings in Hong Kong will make up 9.5% of the total, while international offerings will comprise 90.5%. The price per share is set between 32.3 yuan and 36.3 yuan. Each lot consists of 200 shares, with an entry fee of NT$7,333.22, which translates to 7,333.22 yuan.
The IPO process began today, October 19, and will end at noon on Friday, October 22. The stock is expected to be listed on Wednesday, October 27. Goldman Sachs, Huatai International, and JPMorgan Chase are the joint sponsors for the listing.
Cornerstone Investors
Ten cornerstone investors have joined the listing. These include Oaktree, Sino Land (00083.HK), China Pacific Insurance (02601.HK), and Xiaomi (01810.HK). The total investment by these cornerstone investors amounts to approximately US$205 million.
Fund Allocation
Based on a median offering price of 34.3 yuan, the IPO expects to raise around 5.661 billion yuan. The allocation of these funds includes:
- 45% for strengthening international and cross-border logistics capabilities.
- 35% for enhancing logistics networks and services in China.
- 10% for the development of advanced technologies and digital solutions, including ESG initiatives.
- 10% for working capital and general corporate purposes.