Jinwu Financial News | Youbo Holdings (08529) began offering shares today, making it the first new stock after GEM's listing reform. It is proposed to issue 125 million shares, of which 10% are public subscriptions in Hong Kong, the rest are international placements, and 15% are over-allotted shares. The issue price is between HK$0.5-0.6, 5,000 shares per lot, and the entry fee is HK$3030.25. The shares are expected to be listed on June 3. Yuexiu Finance is the sole sponsor.
The company is a backstage semiconductor transmission medium manufacturer engaged in precision manufacturing of engineering plastic castings.
In terms of capital raising, the company plans to use about 78.2% to increase the Group's production capacity and productivity; about 6.2% will be used to enhance the Group's sales and marketing efforts in the global market (including the Chinese market); about 4.2% will be used to purchase ERP systems and upgrade information systems to support ERP systems; about 3.1% will be used to strengthen the Group's R&D and materials engineering capabilities; and about 8.3% will be used as general working capital.