FORMS SYNTRON (06700.HK): Global offering of 58,961,100 H shares at up to HKD 16.00 each, net proceeds of up to approximately HKD 869.4 million, listing on 22 September

NewTimeSpace (newtimespace.com) News, : On 14 September 2026, Shenzhen Forms Syntron Information Co., Ltd. (stock code: 06700) published a prospectus to launch its global offering of H shares. The global offering comprises 58,961,100 H shares, of which 5,896,200 H shares are under the Hong Kong offering and 53,064,900 H shares under the international offering, at a maximum offer price of HKD 16.00 per H share, with a nominal value of RMB 1.00 per H share.

The offer price is expected to be determined by agreement between the joint overall coordinators, on behalf of the Hong Kong underwriters, and the Company on or around Friday, 18 September 2026 and in any event no later than 12:00 noon on 18 September 2026, and, unless otherwise announced, will not exceed HKD 16.00 per offer share; if no agreement on the offer price is reached by that deadline, the global offering will not proceed and will lapse. Based on the maximum offer price of HKD 16.00 per H share and after deducting the underwriting fees, commissions and estimated expenses payable by the Company, the Company estimates net proceeds of approximately HKD 869.4 million.

Approximately 35.0%, or HKD 304.3 million, of the net proceeds will be used to enhance research and development capabilities over the next three to five years, of which approximately 16.0% will be dedicated to compliant Web3 practices covering digital asset custody, blockchain infrastructure, BaaS and smart contract technologies, approximately 15.0% to continuous upgrades of the FINNOSmart platform and approximately 4.0% to developing post-quantum cryptography to strengthen the security capabilities of FINNOSafe; approximately 25.0%, or HKD 217.3 million, to enhancing delivery capabilities in support of geographic expansion and customer growth, including establishing an AI factory and strengthening local delivery capabilities in the Greater Bay Area and in Belt and Road countries and regions; approximately 15.0%, or HKD 130.4 million, to strengthening sales capabilities in the PRC and global markets, including building and expanding sales networks in Belt and Road markets such as Southeast Asia and the Middle East; approximately 15.0%, or HKD 130.4 million, to potential investments and acquisitions; and approximately 10.0%, or HKD 87.0 million, for working capital and general corporate purposes.

The Company has entered into cornerstone investment agreements with the cornerstone investors, who have agreed to subscribe for offer shares in an aggregate amount of approximately HKD 119.6 million at the offer price. Based on the offer price of HKD 16.00 per offer share, being the maximum offer price, the cornerstone investors will subscribe for 7,431,200 H shares, representing approximately 12.61% of the offer shares and approximately 1.15% of the total issued share capital immediately after completion of the global offering. The cornerstone investors comprise Mr. Cheng Chi Hang (HKD 40,000,000), Successful Lotus Limited (HKD 39,600,000), Thalassa Capital Dynamics SPC, acting for and on behalf of Thalassa Horizon SP (HKD 30,000,000), and an entity wholly owned by Yeebo (International Holdings) Limited (HKD 10,000,000). Each cornerstone investor has agreed not to dispose of the relevant shares during the six-month lock-up period from the listing date without the prior written consent of the Company, the joint overall coordinators and the joint sponsors.

The Company is an established banking-focused fintech services provider rooted in the Greater Bay Area, providing fintech software development services, consultancy services and system integration services to banks, regulators and other financial institutions in the PRC and Hong Kong. Its innovation is driven by two proprietary technology platforms, FINNOSafe and FINNOSmart, and in 2023 it co-developed Banking Copilot with Microsoft; as at the latest practicable date, the Company held seven granted patents and 358 software copyrights, together with certifications including CMMI Level 5 and ISO/IEC 27001:2022. Based on 2025 revenue, the Company held a 1.1% market share in the banking fintech software development services market in the PRC and Hong Kong, ranking 17th. During the track record period, the Company recorded revenue of RMB 730.4 million, RMB 740.4 million and RMB 631.1 million for 2023, 2024 and 2025 respectively, and annual/period profit of RMB 47.4 million, RMB 67.4 million and RMB 74.3 million, with gross margin rising from 33.1% in 2024 to 37.8% in 2025.

The Hong Kong public offering commenced at 9:00 a.m. on Monday, 14 September 2026, with the deadline for electronic applications at 11:30 a.m. on Thursday, 17 September 2026. The Company is expected to announce the final offer price, the level of interest in the international offering and the level of applications under the Hong Kong public offering and the basis of allotment of the offer shares no later than 11:00 p.m. on Monday, 21 September 2026, and the H shares are expected to commence trading on the Stock Exchange at 9:00 a.m. on Tuesday, 22 September 2026. 

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