[ET Net News Agency, 18 June 2019] Feiyang International Holdings Group Limited
(01901), a travel products and services provider based in Zhejiang, said it plans to offer
a total of 125 million shares, 90% of which will be for international placing (subject to
adjustment and over-allotment option) and the remaining 10% will be for public offer in
Hong Kong.
The indicative offer price range is between HK$1.00 and HK$1.10 per share.
Assuming an offer price of HK$1.05 per share, being the mid-point of the indicative
offer price range, and that the over-allotment option is not exercised, the group expects
to receive net proceeds of HK$87.7 million from the listing after deducting related
expenses.
With the minimum subscription being 2,000 shares in one board lot, at the high-end price
of HK$1.10 per share, plus 1% brokerage, 0.0027% SFC transaction levy and 0.005% Stock
Exchange trading fee payable for each share, each board lot of shares will worth
HK$2,222.17.
Ning Shing (Holdings) Company Limited, WWPKG Holdings Company Limited and Junan
Resources (Hong Kong) Co., Limited have each signed cornerstone investment agreement with
the group and also the sole global coordinator to become cornerstone investors. The three
companies have agreed to subscribe 23.81 million, 9.52 million and 4.76 million shares at
HK$25 million, HK$10 million and HK$5 million respectively, representing 4.8%, 1.9% and
1.0% of the group's enlarged issued share capital (assuming over-allotment option is not
exercised).
The public offer in Hong Kong started today and will end at noon on 21 June. The final
offer price and allotment results will be announced on 27 June. Trading of shares of
Feiyang Group will start on 28 June on the Main Board of the stock exchange.
Giraffe Capital Limited is the sole sponsor, sole global coordinator, one of the joint
bookrunners and joint lead managers of the global offering, and Crosby Securities Limited
and Mason Securities Limited are the joint bookrunners and joint lead managers. (KL)