Jinwu Financial News | InnoTek (02577) begins its stock offering today, planning to issue 45.364 million shares Listed in Hong Kong, with 10% available for public offering in Hong Kong and the remainder for international placement, plus a 15% over-allotment option. The offering price per share is between 30.86 and 33.66 HKD, with a minimum investment cost of 3,399.95 HKD for 100 shares. The shares are expected to be listed on December 30. China International Capital Corporation and Shenwan Hongyuan International are the joint sponsors.
Based on the median offering price of 32.26 HKD, the expected net fundraising amount is approximately 1.363 billion HKD, of which about 60.0% is planned to be used to expand the capacity of 8-inch Gallium Nitride wafer production, purchase and upgrade production equipment and machinery, and recruit production personnel; about 20.0% will be used for research and development and to expand the product portfolio to increase the penetration of Gallium Nitride products in the end market; about 10.0% will be used to expand the Global distribution network for Gallium Nitride products; and about 10.0% will be allocated for working capital and other general corporate purposes.
