New Stock News: JiTu Express - W sets its IPO price at 12 yuan per share with a 100% allotment rate for the first round of subscriptions.

Global logistics service operator GTO Express-W (01519.HK) announced the results of its IPO, with an offer price of HKD 12 per share. The Hong Kong public offering portion was oversubscribed by approximately 0.36 times. The stock will be listed tomorrow (27th). Each lot consists of 200 shares, with a 100% chance of allocation for everyone. The joint sponsors are Morgan Stanley, Bank of America Securities, and CICC. The company introduced a total of 9 cornerstone investors in this listing, including Aspex Management's Aspex Master Fund, Jallion Global Limited and Joyous Tempinis, D1, Hidden Hill SPV VIII, Sequoia Capital, SF Holding (002352.SZ)'s CELESTIAL OCEAN INVESTMENTS, Temasek's Dahlia Investments Pte., Tencent (00700.HK)'s Eternal Earn Holding, Parallel Cluster Investment, and Huang River Investment and Hillhouse Capital, with a total subscription of 130 million shares, equivalent to approximately 1.48% of the total issued share capital after listing. In addition, the company is expected to raise a net amount of approximately HKD 3.528 billion from the IPO. Approximately 30% of the funds will be used to expand the logistics network, upgrade infrastructure, and strengthen sorting, warehousing capacity, and capabilities in Southeast Asia and other existing markets. Approximately 30% will be used to explore new markets and expand service scope. Approximately 30% will be used for research and technological innovation. Approximately 10% will be used for general corporate purposes and working capital requirements. (jl/s)