RED AVENUE NEW MATERIALS (09607.HK): kicks off HK IPO, HK$39-44 a share

NewTimeSpace News: Red Avenue New Materials Group Co., Ltd. (09607.HK) launched a global offering of 68,118,700 H shares on September 21, 2026, comprising 6,811,900 H shares (about 10%) under the Hong Kong Public Offering and 61,306,800 H shares (about 90%) under the International Offering. The offer price ranges from HK$39.00 to HK$44.00 per H share, with a board lot of 100 H shares and a maximum payable amount of about HK$4,444.38 per lot.

The Company has entered into cornerstone investment agreements with 8 cornerstone investors, who have agreed to subscribe for 23,877,500 offer shares totalling about US$126.4 million (about HK$990.9 million) at the mid-point price of HK$41.50, representing about 35.1% of the offer shares and about 3.5% of the issued share capital.

The offering closes at noon on September 24, with pricing expected on September 25, results on September 28 and listing on September 29.

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