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IPO Detail
02245 力勤資源
LYGEND RESOURCE
Listing Date2022/12/01
Listing Price15.800
 
Quote
  • 13.880 -0.340 (-2.391%)    Sink Below Listing Price
  • 15-min delayed, last update: 31/01/2023 17:59
Subscription Result
  • Subscription Rate
    1.47x
  • Guarantee One Lot Size
    2 lot
  • One Lot Success Rate
    80%
COMPANY PROFILE

Lygend Resources & Technology Co. is a company with business across the entire nickel industry value chain. It is engaged in both the trading and the production of nickel products. For nickel product trading, it ranked first globally in terms of nickel product trading volume in 2021, and first in China in terms of nickel ore trading volume in 2021, with a market share of 26.8% in 2021.

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The Group is China’s largest trading company of nickel ore. It primarily trades laterite nickel ore sourced from nickel mining companies in the Philippines and Turkey. For nickel product production, the HPAL project on the Obi Island, Indonesia, which it have jointly developed with Indonesian Partner, is one of the most technically advanced nickel-cobalt compound hydrometallurgy projects worldwide. It generates revenues primarily from the trading and production of nickel products, and to a lesser extent, equipment manufacturing and sale, and other businesses.

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Its products are widely used in various downstream sectors including the NEV and stainless steel industries. Its customers primarily consist of smelting and refining companies and stainless steel manufacturers in the stainless steel industry, as well as smelting and refining companies and ternary battery material manufacturers in the NEV industry.

BASIC INFORMATION
MarketHong Kong (Main Board)
Business NatureDiversified Metals & Minerals
Major Business AreaChina
Board Lot200
GLOBAL OFFERING
No. of Offer Shares232.55M H shares
No. of International Offer Shares209.29M H shares
No. of HK Offer Shares23.25M H shares
Offer Price$15.60 - $19.96
Stock Code2245
Sponsor(s)China International Capital Corporation Hong Kong Securities Limited, CMB International Capital Limited
Underwriter(s)China International Capital Corporation Hong Kong Securities Limited, CMB International Capital Limited, BOCI Asia Limited, DBS Asia Capital Limited, ABCI Securities Company Limited, BNP Paribas Securities (Asia) Limited, Silverbricks Securities Company Limited
TIME TABLE
Application PeriodNov 21 (Mon) - noon, Nov 24 (Thu)
Price Determination DateNov 24 (Thu)
Result Announcement DateOn or before Nov 30 (Wed)
Result Announcement DateOn or before Nov 30 (Wed)
Dealings in Shares commence onDec 01, 2022. (Thu)
Reallocation of Shares Offered
Times of HK Offer Shares Subscription15X - 50X50X - 100XOver 100X
% of total shares reallocated to HK Offer30%40%50%
Sales Statistics (HKD)
Offer Price$15.60 - $19.96
Capitalization24.18B - 30.94B
NAV / share ($)$5.05 - $5.68 (Unaudited pro forma adj NAV / share)
Use Of Proceeds
Assuming the offer price being at HKD 17.78, the net proceeds raised would be HKD 3.96B, of which
56.4% : For development and construction of nickel product production projects on the Obi Island
24% : Contribute additional capital to CBL, its joint venture with Contemporary Amperex Technology Co., which will be focused on projects across the NEV battery value chain
9.6% : For potential minority investments in nickel mines in Indonesia
10% : Working capital
Related Document
Remark: The above information is referenced from the prospectus.
  All data is calculated from the non- exercise rights(if applicable).
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