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<IPO>SERES (09927.HK) Begins IPO Today with Entry Fee of $13,282.6, Attracts Cornerstone Investors like SANHUA, ZHONGSHENG HLDG
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An NEV company SERES (09927.HK)(601127.SH) is conducting its IPO in Hong Kong, planning to globally offer 100.2 million H shares, with 10% (10.02 million shares) allocated for the Hong Kong public offering and 90% (90.18 million shares) for international placement. The maximum offer price is set at HKD131.5 per share, and the IPO aims to raise approximately HKD13.176 billion. The entry fee of each board lot (100 shares) approximates HKD13,282.62.

The subscription period starts today (October 27) and will end on Friday (October 31), with pricing expected next Monday (November 3) and listing on Wednesday (November 5). CICC and Galaxy International are joint sponsors. Based on the maximum offer price of HKD131.5, the net proceeds from SERES’ listing in Hong Kong will approximate HKD12.925 billion.

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This IPO attracted 22 cornerstone investors, including GF Fund under GF SEC (01776.HK)(000776.HK), NCI (01336.HK)(601336.SH), Bess Broadway, SANHUA (02050.HK), ZHONGSHENG HLDG (00881.HK), Zhink International, Gold Wings, HICHAIN (300873.SZ), Schroders, Jack Ma's YF Capital, PSBC Wealth under PSBC (01658.HK)(601658.SH), Skyler International under TUOPU GROUP (601689.SH)Chairman Wu Jianshu, XINGYU (601799.SH), MEIDONG AUTO (01268.HK), Ghisallo Fund, Jump Trading, Jain Global Master Fund Ltd, and China Alpha Fund, collectively subscribing for approximately USD826 million equivalent shares.
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