TRANSSION (02636.HK): H-Share IPO Launched, Cornerstones Take HKD 1.25bn

NewTimeSpace News: On 7 October 2026, Shenzhen Transsion Holdings Co., Ltd. (stock code: 02636; A-share stock code: 688036.SH) published a global offering announcement for the listing of its H shares on the Main Board of the Stock Exchange, offering 86,648,300 H shares (subject to the exercise of the over-allotment option), comprising 8,664,900 H shares under the Hong Kong Public Offer and 77,983,400 H shares under the International Offering, representing approximately 10.0% and 90.0% of the initial offer shares respectively, at an Offer Price range of HKD 35.30 to HKD 38.80 per H share, with a board lot of 100 H shares and a maximum entry fee of approximately HKD 3,919.13.

The announcement showed that the Company entered into cornerstone investment agreements with 13 cornerstone investors, who agreed to subscribe for offer shares for an aggregate amount of approximately HKD 1,245.50 million, excluding brokerage fee, SFC transaction levy, AFRC transaction levy and Stock Exchange trading fee. Assuming an Offer Price of HKD 37.05, being the mid-point of the Offer Price range, the cornerstone investors will subscribe for 33,616,400 offer shares, representing approximately 38.80% of the offer shares and approximately 2.72% of the issued share capital immediately following completion of the Global Offering; assuming the over-allotment option is exercised in full, the corresponding percentages are approximately 33.74% and approximately 2.69%. The cornerstone investors include GIC, E Fund, Millennium, LONGSYS, BOC wealth, Digimoc, Golden Link and HOSIN HK. GIC, E Fund HK and E Fund Management are existing minority shareholders or their close associates, and Digimoc is the beneficial owner of approximately 6.22% of the Company's issued share capital.

The Hong Kong Public Offer commenced at 9:00 a.m. on 7 October 2026 and will close at 12:00 noon on 12 October 2026, with the expected pricing date falling on 13 October 2026 and the expected commencement of trading in the H shares on the Stock Exchange at 9:00 a.m. on 15 October 2026. CITIC Securities acts as the sole sponsor, and CLSA acts as the sponsor and overall coordinator. Based on the mid-point Offer Price and assuming the over-allotment option is not exercised, the net proceeds from the Global Offering are approximately HKD 3,118.1 million, of which approximately 40.0% will be used for AI-related technology research and development, approximately 30.0% for marketing and brand building, approximately 20.0% for strengthening mobile internet services and IoT product development, and approximately 10.0% for working capital and general corporate purposes.

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.