Excelland Robotics (03231.HK): Launches global offering at maximum offer price of HKD 19.55, expected to list on 9 September

NewTimeSpace News: On 31 August 2026, Excelland Robotics (Wuxi) Co. Ltd. announced a global offering of an aggregate of 45,000,000 H shares, comprising 2,250,000 H shares under the Hong Kong public offering (initially representing approximately 5.0% of the total offer shares available under the global offering) and 42,750,000 H shares under the international offering (initially representing approximately 95.0%).

According to the announcement, the offer price range is HKD 14.45 to HKD 19.55 per H share, and the Company is applying for a listing under Chapter 18C of the Listing Rules. The par value of each H share is RMB 1.00; the stock code is 3231; each board lot consists of 200 H shares, with an entry fee of approximately HKD 3,949.44 per board lot (calculated at the maximum offer price).

In terms of the timetable, the Hong Kong public offering opens at 9:00 a.m. on 31 August 2026 and closes at 12:00 noon on 4 September 2026; the expected pricing date is by 12:00 noon on 7 September 2026 (Monday); the final offer price, application level and the level of indication of interest in the international offering will be announced by no later than 11:00 p.m. on 8 September 2026 (Tuesday); and the H shares are expected to commence trading on the Stock Exchange at 9:00 a.m. on 9 September 2026 (Wednesday). Under the clawback mechanism (Paragraph 4.2 of Practice Note 18 of the Listing Rules as modified by Rule 18C.09), if valid applications in the Hong Kong public offering are 10 times or more but less than 50 times the initial number of H shares offered under the Hong Kong public offering, the total number of H shares available under the Hong Kong public offering will increase to 4,500,000 H shares (approximately 10.0%); if 50 times or more, it will increase to 9,000,000 H shares (approximately 20.0%).

According to the list of cornerstone investors attached to the announcement, based on an offer price of HKD 17.00 per H share (the mid-point of the indicative offer price range), a total of 2 cornerstone investors have been introduced, with an aggregate subscription of approximately 1,389,200 offer shares, representing approximately 3.09% of the offer shares and approximately 0.33% of the issued share capital immediately upon completion of the global offering. SensePower subscribed for USD 2,000,000 (approximately 926,200 shares, 2.06% of the offer shares), and CYGG subscribed for USD 1,000,000 (approximately 463,000 shares, 1.03%).

NewTimeSpace Disclaimer: All content herein is the original work of NewTimeSpace. Any reproduction, reprinting, or use of this content in any other manner must clearly indicate the source as "NewTimeSpace". NewTimeSpace and its authorized third-party information providers strive to ensure the accuracy and reliability of the data, but do not guarantee the absolute correctness thereof. This content is for reference only and does not constitute any investment advice. All transaction risks shall be borne by the user.