Chongqing Hongjiu fruit, a fruit sales enterprise invested by Alibaba, announced its IPO results

$HONGJIU FRUIT (06689.HK)$ is priced at HK $40 per share, which is the lower limit of the IPO price of HK $40 to 52. The net amount raised is HK $497 million, and the one-hand signing rate is 100% for everyone. Hongjiu fruit will be listed on September 5.

Hongjiu fruit recorded 2086 subscriptions in the Hong Kong public offering, only 0.6 times of which was under subscribed, while the international offering was slightly oversubscribed, 0.96 times of which was oversubscribed.

45% of the funds raised by Hongjiu fruit will be used to improve its fruit supply chain, 22% for fruit brand building and product promotion, 16% for digital system upgrading and global fruit industry internet platform development, 7% for repayment of bank loans for fruit procurement and expansion of its sales and distribution network, and 10% for replenishing working capital needs and other general corporate purposes.