Gelonghui November 9th 丨France Shares (02499.HK) announced that the company will sell 12.136,000 shares globally, 1,213,600 shares in Hong Kong, and 10.922,400 shares internationally; the sale price is HK$14.28 per share, 200 shares per lot; Haitong International is the sole sponsor; it is expected that the shares will be listed on the main board of the Stock Exchange on November 10, 2023.
The Hong Kong offering shares initially offered for sale under the Hong Kong Public Offer have been slightly oversubscribed. A total of 4,939 valid applications have been received, and a total of 9.4646 million shares offered in Hong Kong have been subscribed, which is equivalent to about 7.80 times the total number of H shares initially available for subscription under the Hong Kong public offering. The H shares initially offered for sale under the international offering have been slightly oversubscribed, which is equivalent to about 1.37 times the total number of shares initially available for subscription and sale under the international offering. Based on the offering price of HK$14.28 per share, Cornerstone investors have subscribed to a total of 7.63332 million H shares under the Cornerstone Investment Agreement.
Based on the offering price of HK$1,428 per share offered, the net proceeds from the global offering to be collected by the company is estimated to be approximately HK$116.3 million. Since there has been no overallocation of shares offered internationally, the over-allotment rights have not been and will not be exercised, and it is anticipated that the company will not receive additional income from this. The company currently plans to use 45.0% of the net proceeds to enhance the company's service capabilities, increase customer coverage and expand the range of on-site logistics equipment; 20.0% will be used to expand and upgrade the company's supply chain infrastructure; 15.0% will be used to enhance the company's technical capabilities and infrastructure; 10.0% will be used to implement strategic mergers and acquisitions that match the company's regional layout, industry focus and business priorities; and 10.0% will be used for the company's general working capital and general corporate purposes.