Jinwu Financial News | Lianlian Digital (02598) will start offering shares today and plans to issue 55.92 million H shares, of which 10% are Hong Kong public offerings and the rest are international placements. The offering price per share ranges from HK$10.21-10.95, 500 shares per lot, and an entry fee of HK$5,530.22. CICC and J.P. Morgan Chase are co-sponsors. The shares are expected to be listed on March 28.
The company is a digital payment solution provider in China, with global payment capabilities to serve customers around the world.
The company plans to use about 60% of the proceeds raised to improve the company's technical capabilities within the next five years; about 30% will be used to expand the company's global business operations within the next five years; about 5% will be used for future strategic investments and acquisitions within the next five years to enrich the company's services and products, enhance the company's technical capabilities, and strengthen the company's international business; about 5% is expected to be used for general corporate purposes and working capital requirements.