TECH - Tencent Investors Cheer Hong Kong's Second-Largest IPO For 2023 | Benzinga
Tencent Holdings Limited (OTC: TCEHY)-backed J&T Global Express breathed life back into Hong Kong’s flagging IPO market with an oversubscribed market debut Friday.
The company offered 327 million shares at HK$12 a share and received 1.4 times the number of orders for its stock, including a 1.9 times oversubscription from offshore share purchasers, it said in a stock exchange filing.
J&T raised $520 million from the offering and has options to raise an additional HK$567 million ($72.5 million) from the oversubscriptions, which it has not yet exercised.
The shares held steady during Hong Long morning trading at ...