Laifual Drive (03952.HK): Partially Exercises Over-Allotment Option for 736,400 H Shares; Stabilization Period Ends

NewTimeSpace News: Zhejiang Laifual Drive Co., Ltd. (stock code: 3952) announced on July 25 regarding the partial exercise of the over-allotment option, stabilization actions, and the end of the stabilization period.

According to the announcement, the sponsor and overall coordinator (for itself and on behalf of the international underwriters) partially exercised the over-allotment option described in the prospectus on July 25, 2026 (Saturday), involving an aggregate of 736,400 H shares (the "Over-Allotment Shares"), representing approximately 5.48% of the total number of offer shares initially available for subscription under the global offering before the exercise of the over-allotment option.

The announcement stated that the Over-Allotment Shares will be issued and allotted by the company at HK$85.50 per H share (being the offer price per H share under the global offering, excluding 1.0% brokerage commission, 0.0027% SFC transaction levy, 0.00015% AFRC transaction levy, and 0.00565% Stock Exchange trading fee). The Over-Allotment Shares will be used to deliver part of the H shares to placees who have agreed to delayed delivery of the relevant offer shares subscribed by them under the global offering. The Stock Exchange has approved the listing and trading of the Over-Allotment Shares, which are expected to commence on the Main Board of the Stock Exchange at 9:00 a.m. on July 27, 2026 (Monday).

The announcement disclosed that following the completion of the partial exercise of the over-allotment option, H shares converted from unlisted shares will be 89,956,887, representing 86.38% of the enlarged issued share capital after the global offering; H shares issued under the global offering will increase to 14,178,300, representing 13.62%; total share capital will increase to 104,135,187 shares. The company will receive additional net proceeds of approximately HK$59.8 million from the issuance of the Over-Allotment Shares, which will be allocated on a pro-rata basis to the purposes set out in the "Future Plans and Use of Proceeds" section of the prospectus.

The announcement also disclosed that the stabilization period for the global offering ended on July 25, 2026 (Saturday) (being the 30th day after the last day for lodging applications under the Hong Kong public offering). The stabilization actions taken by the stabilization manager, CMB International Securities Limited, or its affiliates during the stabilization period are as follows: over-allocation of an aggregate of 2,016,200 H shares in the international offering, representing approximately 15.00% of the total number of offer shares initially available for subscription under the global offering before any exercise of the over-allotment option; continuous market purchases of an aggregate of 1,279,800 H shares at prices ranging from HK$58.40 to HK$85.50 per H share during the stabilization period, equivalent to approximately 9.52% of the total number of offer shares available for subscription under the global offering before any exercise of the over-allotment option; and partial exercise of the over-allotment option by the sponsor and overall coordinator on July 25, 2026 at HK$85.50 per H share, involving an aggregate of 736,400 H shares. The unexercised portion of the over-allotment option lapsed on July 25, 2026.

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