BRIEF: Heavily oversubscribed CREALITY rises in Hong Kong debut
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Shenzhen CREALITY Technology Co., Ltd. saw its stock price rise 80% on its first day of trading in Hong Kong, closing at HKD 25.62 per share, an increase of 36% from the issue price. The company issued 73.43 million shares at HKD 18.80 per share, raising a net income of HKD 1.27 billion (USD 163 million). The public offering was oversubscribed 3,800 times by local investors, while the international placement was oversubscribed 25.8 times. 15 cornerstone investors purchased 36.6 million shares, accounting for 49.9% of the total issuance. About 30% of the proceeds will be used for research and development, and 25% for overseas business
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