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28/02/2020 16:55

SMC Electric (02381) to kick off IPO for HK$44.7m

[ET Net News Agency, 28 February 2020] SMC Electric Limited (02381) said it plans to
offer a total of 375 million shares, subject to re-allocation, comprising 187.5 million
public offer shares and 187.5 million placing shares, at an offer price range between
HK$0.335 and HK$0.380 per share.
The public offer will open at 9:00 a.m. on 29 February and close at noon on 6 March. The
allotment results will be announced on 16 March. Dealings in shares on HKEX are expected
to commence on 17 March.
The net proceeds from the share offer (after deducting underwriting fees and estimated
expenses), assuming an offer price of HK$0.3575 per share, being the mid-point of the
indicative offer price range, will be HK$44.7 million.
Red Sun Capital is a sole sponsor. Joint book-runners are Futu Securities International
(Hong Kong), CMBC Securities, Essence International Securities (Hong Kong), First Shanghai
Securities, Guosen Securities (HK) Capital, Guotai Junan International, Red Sun Capital,
and Shanxi Securities International.
SMC Electric manufactures and sells a wide range of rechargeable electric tools
including cordless fans, work lights, vacuum cleaners and other electric tools mainly to
the U.S. (KL)

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