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Baixiang shares: the stable price period has ended, and no stability price action has been taken and the additional allocation of shares has become invalid.
Baowang Corporation (06657) announced that the global offering of stable-priced shares will end on August 3, 2024 (Saturday), which is 30 days after the deadline for submitting Hong Kong public offering applications. This announcement relates to the company's announcement dated July 8, 2024. As there were no excess allocations of H-shares in the international offering, the sponsor and overall coordinator (on behalf of the international underwriters) did not exercise the over-allotment option. The stabilizing manager, its affiliates, or any person acting on its behalf did not take any stabilizing actions with respect to the global offering during the stabilized price period. The over-allotment option will expire on August 3, 2024 (Sunday).
Baiwang Co. Ends Stabilization With Stable Public Float
Baowang Shares (06657): The stable price period has ended, and there is no action to stabilize prices and the forfeit of excess share subscription rights.
Baowang Corporation (06657) announced that the stable price period sold globally will end on August 3, 2024 (Saturday).
Beijing Watertek Information Technology (300324.SZ) holds 9.91% of the shares of Baifeng shares.
On July 25th, Grillon Information (300324.SZ) stated on the investor interaction platform that it holds 9.91% of the shares of Baiwang Shares. The successful listing of Baiwang Shares on the Hong Kong Stock Exchange has a positive impact on the company. Looking to the future, under the policy background of the State Administration of Taxation actively promoting the construction of the fourth phase of Golden Tax, the company will comprehensively deploy enterprise-side software and its derivative value-added services, using cloud computing, big data, AI, blockchain and other related technologies to help enterprises establish a system that covers integrated business, finance, and tax, tax declaration, accounting file management, and data analysis, fully supporting the digitization required for enterprise development.
HK stocks are abnormal | Recent IPO, Baowan Shares (06657), fell 24% and returned to the IPO price. The company ranks first in China's cloud-based financial and tax-related trade digital market.
According to the Wisdom Finance APP, recent IPO Baiwang Stock (06657) was listed this Tuesday with an offering price of HKD 36. After being listed, the stock price rose to as high as HKD 51.5 and then fell again during today's trading, currently down 24.37% to HKD 36 with a turnover of HKD 11.5032 million. The total market value is about HKD 8.1 billion. Baiwang Stock focuses on providing SaaS financial and tax digital and data-driven intelligent solutions through the Baiwang Cloud Platform. According to the Frost & Sullivan report, by 2023, Baiwang Stock ranks first in China's cloud financial and tax-related transaction digital market based on revenue.
Hong Kong stock abnormality | At the end of the trading, Baotian shares (06657) increased by more than 25%, a 30% increase from the IPO price, and the total market value approached HK$11 billion.
At the end of trading, Baoying Corporation (06657) rose more than 25%, reaching a high of HKD 49.1, up more than 36% from the IPO price of HKD 36. As of press time, it rose 25.71%, to HKD 48.9, with a turnover of HKD 14.5995 million.
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