Herbs Generation Group Holdings Limited (02593) is conducting an initial public offering from December 11 to December 16, 2024, proposing to globally issue 33.3336 million shares, with 10% allocated to the Hong Kong public offering and 90% to international placement. The proposed share price is between 3.75 to 4.15 HKD per share, with a minimum order of 800 shares. The shares are expected to commence trading on the Stock Exchange at 9:00 AM (Hong Kong time) on December 19, 2024 (Thursday).
The announcement states that the company has entered into cornerstone investment agreements with Water Live Wealth Limited, Vital Message, and Mr. Yuan Zihao, with cornerstone investors subscribing for a total amount of 28 million Hong Kong dollars in shares offered.
Assuming the offering price is 3.95 Hong Kong dollars per share, the Global net proceeds from the offering will be approximately 0.102 billion Hong Kong dollars. 35.7% will be used for strategic marketing and promotional activities to further enhance the brand awareness and recognition of the company's proprietary brand products; 37.8% will be used to expand, improve, and optimize the sales network; 4.7% will be used to expand and enrich the product portfolio; 12.4% will be used for talent recruitment; and 9.3% will be used for general operating funds.
