Dajin Heavy Industry Raises HK$151 Million From Partial Exercise of Hong Kong IPO Overallotment

Dajin Heavy Industry (HKG:1081, SHE:002487) said its underwriters partially exercised the overallotment option of its Hong Kong listing, and the stabilization period of its initial public offering ended on Thursday, July 2, according to a same-day filing with the Hong Kong bourse. The company issued nearly 2.3 million H shares at HK$66.40 apiece for additional net proceeds of HK$151.3 million. The overallotment option was exercised after 15 million shares were over-allocated by the IPO's underwriters in the international portion of the issue. The underwriters purchased 12.7 million H shares from the open market to meet the over allocation, with the difference coming from the partial exercise of the overallotment option. The number of shares held by the public after the exercise of the overallotment option complied with Hong Kong's listing requirements, the firm said.