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19/05/2020 10:27

SMC Electric (02381) kicks off IPO for HK$42.5m

[ET Net News Agency, 19 May 2020] SMC Electric Limited (02381) said it plans to offer a
total of 500 million shares, subject to re-allocation, comprising 50 million public offer
shares and 450 million placing shares, at an offer price HK$0.25 per share.
The public offer opened at 09:00 a.m. today. It will close at 12:00 noon on 22 May.
The allotment results will be announced on 1 June. Dealings in shares on HKEX are
expected to commence on 2 June.
The aggregate net proceeds from the share offer will be HK$42.5 million.
Red Sun Capital is the sole sponsor. Elstone Securities acts as sole global coordinator.
Joint book-runners and joint lead managers are Elstone Securities, CMBC Securities
Company, Essence International Securities (Hong Kong), First Fidelity Capital
(International), Kingkey Securities Group, SPDB International Capital, Zhongtai
International Securities, Conrad Investment Services, Realord Asia Pacific Securities, KGI
Asia and Innovest Securities Investment.
SMC Electric engages in the manufacturing and selling of rechargeable electric tools and
sourcing and selling of electric fans. (KL)

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