Key Takeaways:
- NASN TECH offers 57.6 million shares at HKD10.42-HKD11.18 each.
- The IPO could raise up to HKD644 million at the top of the range.
- Trading on the Main Board is expected to begin on 7 August.
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NASN TECH seeks up to HKD644 million in Hong Kong IPO
Autonomous driving motion control solutions provider NASN TECH (02261.HK) launched its Hong Kong IPO on Tuesday, seeking to raise as much as HKD644 million from the share sale.
The company is offering 57.5945 million H shares globally, with 10% reserved for the Hong Kong public offering and 90% for international placing. The indicative price range is set at HKD10.42 to HKD11.18 per share, with a board lot of 100 shares requiring an entry fee of about HKD1,129.27.
At the median offer price of HKD10.80, net proceeds are estimated at approximately HKD554 million. Guotai Haitong and BOCI are acting as joint sponsors for the listing.
The subscription period runs from 30 July through 4 August, with trading on the Main Board expected to commence on 7 August. The pricing gives NASN TECH an enterprise value that will be tested against sector peers in the autonomous driving supply chain once trading begins. Investors will watch first-day trading on 7 August for signals of institutional demand for the company's motion control technology.
This article is for informational purposes only and does not constitute investment advice.
