Elementec Technology (08637) was first listed, and the announcement showed that each share was priced at HKD 2.42, with a total of 27 million shares issued, with 1,000 shares per hand, and a net amount of approximately HKD 12.03 million. As of the time of publication, it has fallen 31.4%, closing at HKD 1.66, and the turnover was HKD 16.62 million.
According to the Zhoutong Finance APP, Elementec Technology (08637) was first listed, and the announcement showed that each share was priced at HKD 2.42, with a total of 27 million shares issued, with 1,000 shares per hand, and a net amount of approximately HKD 12.03 million. As of the time of publication, it has fallen 31.4%, closing at HKD 1.66, and the turnover was HKD 16.62 million.
It is reported that Elementec Technology is a precision engineering service provider headquartered in Singapore. The company provides precision engineering services to its customers, including precision machining services and precision welding services. According to the Zhoushi Consulting report, in 2023, the company's semiconductor division in the precision parts engineering industry in Singapore ranked fifth in terms of income, with a market share of approximately 3.3%.
It is worth noting that during the public offering phase, Elementec Technology received 2480.61 times oversubscription. After the replenishment and redistribution, the final number of shares issued in the public offering was 13.5 million shares, accounting for approximately 50% of the total shares issued. Elementec Technology also became the second new stock in the GEM market of the Hong Kong stock exchange this year with oversubscription multiple exceeding 1,000 times.