Meig Smart sets listing price at HK$28.86/share

Meig Smart sets listing price at HK$28.86/share

Meig Smart Technology (HKG:3268) has set the offer price for its initial public offering at HK$28.86 per share, valuing the offering at up to HK$1.01 billion. The Shenzhen-based wireless communication modules provider is offering 35 million H shares, with 10% allocated to Hong Kong public investors and 90% reserved for international institutional subscribers, subject to reallocation. The final price, determined on or before March 6, positions the company's entry fee at approximately HK$2,915.10 for a board lot of 100 shares according to market data.

The IPO includes eight cornerstone investors committing HK$458.5 million to the offering, providing initial liquidity and stability. Proceeds will prioritize research and development, sales network expansion, and potential acquisitions. The company's listing follows a broader revival in Hong Kong's IPO market post-Lunar New Year, with four offerings collectively seeking up to HK$4.9 billion in funding. Meig Smart's shares are scheduled to begin trading on March 10, with joint bookrunners including China International Capital Corp., BNP Paribas Securities (Asia), and Tiger Brokers (HK) Global according to company announcements.

This listing underscores growing investor interest in technology-driven sectors, as the company aims to strengthen its position in wireless communication and IoT solutions. The final offer price reflects market conditions and demand assessments ahead of its Hong Kong debut.