RA MATERIALS (09607.HK): H Shares Priced at HK$44.00, Listing Sept 29
NewTimeSpace News: On 28 September 2026, Red Avenue New Materials Group Co., Ltd. (A Share stock code: 603650.SH; H Share stock code: 09607.HK) announced the final offer price and allotment results of its Global Offering. The final offer price has been set at HK$44.00 per H Share, the same as the maximum offer price, plus brokerage of 1.0%, SFC transaction levy of 0.0027%, Stock Exchange trading fee of 0.00565% and AFRC transaction levy of 0.00015%. Dealings in the H Shares are expected to commence on the Stock Exchange at 9:00 a.m. on 29 September 2026 in board lots of 100 H Shares.
The number of Offer Shares under the Global Offering is 68,118,700 H Shares, comprising 6,811,900 Hong Kong Offer Shares and 61,306,800 International Offer Shares. The Hong Kong Public Offering received 12,645 valid applications at a subscription level of 3.39 times, and no claw-back was triggered. There were 81 placees in the International Offering at a subscription level of 2.75 times. Based on the final offer price, gross proceeds amounted to HK$2,997.22 million and, after deducting estimated listing expenses of HK$95.93 million, net proceeds were HK$2,901.29 million. The number of issued Shares upon Listing is 684,188,336.
The Cornerstone Investors were allocated an aggregate of 22,577,600 Offer Shares, representing 33.1% of the total number of Offer Shares under the Global Offering, namely CNCB Investment, Full Truck, Golden Valley Master, Goldshore, Happy Wisdom, Prinx Chengshan HK, Yang Quanhai and Zhou Bo, subject to a lock-up period ending 28 March 2027. Immediately following the completion of the Global Offering, the total number of H Shares expected to be held by the public represents approximately 10.0% of the Company's total issued share capital (excluding treasury shares). The announcement warned that, in view of the high concentration of shareholding in a small number of Shareholders, H Shareholders and prospective investors should exercise extreme caution when dealing in the H Shares.
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