Baowang shares (06657) released an announcement that the stable price period for the global sale will end on August 3, 2024 (Saturday) (30 days after the deadline for submitting a public offering application in Hong Kong).
This is a statement from the company dated July 8, 2024. Since there was no oversubscription of H shares in the international offering, the sponsor and overall coordinator (on behalf of the international underwriter) did not exercise the oversubscription right, and neither the stabilizing manager, its affiliates, nor anyone acting on their behalf took any stabilizing action during the stable price period for the global offering. The oversubscription right will expire on August 3, 2024 (Saturday). Therefore, the company will not issue H shares based on the oversubscription right.
The directors confirm that following the end of the stabilizing period, the company has complied with and will continue to comply with the requirements of Listing Rule 8.08(1)(a), which states that at all times at least 25% of the total number of issued shares must be held by the public.