By Hong Kong Newsroom
HONG KONG (Feb 06) -- Bank of Gansu said its underwriters fully exercised an over-allotment option, helping the lender raise an additional HK$892.5 million ($114.1 million) following its debut on Hong Kong's main board last month.
About 331.8 million new shares, or 15% of the shares originally offered under the initial public offering, have been allotted at the offer price of HK$2.69 apiece under the option, Bank of Gansu said in a statement. The lender had raised about HK$5.95 billion in gross proceeds from 2.21-billion share IPO priced at the mid-point of an indicative range of HK$2.61 to HK$2.77 apiece.
Four cornerstone investors - Hong Kong Dasheng Investment Holdings, Huaxun International Group, China Create Capital and Huarong Rongde (Hong Kong) Investment Management - invested $400 million in the offering.
The over-allotment shares will be used solely for delivery to a certain cornerstone investor, Bank of Gansu said.
Shares of Bank of Gansu have climbed as high as HK$3.34 following their debut on Jan. 18. They were last down 1.7% at HK$2.87 on Tuesday. The over-allotment shares will debut on Thursday.
CMB International Capital, CCB International Capital, Huatai Financial Holdings (Hong Kong), Guotai Junan Capital and BOCI Asia are the joint sponsors for the offering.
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