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JY Gas Seeks Up to $22.7 Million in Hong Kong IPO

MT Newswires · 10/31/2022 10:56

10:55 PM EDT, 10/30/2022 (MT Newswires) -- JY Gas (HKG:2420) launched its initial public offering in Hong Kong Monday, seeking to raise up to HK$178.2 million ($22.7 million) from the deal.

The natural gas operator is offering up to 110 million shares at HK$1.42 to HK$1.62 per share, according to a same-day filing.

The company expects to determine the price of the IPO on Nov. 7 and disclose the results of the allocation on Nov. 15. The shares will begin trading on the stock exchange on Nov. 16.

The natural gas operator plans to use the proceeds to construct and upgrade its pipelines, replace existing gas meters, and for working capital and other general corporate purposes.

China Industrial Securities International Capital, ABCI Securities, ICBC International Securities, CCB International Capital,

BOCOM International Securities, CEB International Capital Corporation, CMBC Securities Company, SPDB International Capital, Zhongtai International Securities, China Everbright Securities, SBI China Capital Financial Services, Livermore Holdings, Valuable Capital and Maxa Capital are the joint bookrunners and lead managers of the IPO.

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