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03320 CHINARES PHARMA
RTNominal down4.550 -0.220 (-4.612%)
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30/03/2020 10:41

Tycoon Group (03320) kicks off IPO for HK$230.3m

[ET Net News Agency, 30 March 2020] Tycoon Group Holdings Limited (03320) said it
intends to offer an aggregate of 192.42 million shares (subject to the over-allotment
option), of which 19.24 million shares (subject to re-allocation) will be for Hong Kong
public offering and 173.18 million shares (subject to reallocation and the over-allotment
option) will be for an international offering.
Tycoon had a diverse product portfolio for its distribution business which consisted of
120 brands (of which 112 were third-party brands and eight were Private Labels) and 478
products during FY2019, including a variety of PCM, a health supplement, skincare,
personal care, and other healthcare products.
Assuming an offer price of HK$1.50 per share (being the mid-point of the offer price
range between HK$1.48 and HK$1.52 per share) and the over-allotment option is not
exercised at all, the estimated net proceeds from the global offering will amount to
approximately HK$230.3 million after deducting underwriting commissions and other
estimated expenses paid and payable by the group in connection with the global offering.
Within the International Placing, Jacobson Group Treasury Limited (Cornerstone
Investor), an indirectly wholly-owned subsidiary of Jacobson Pharma Corporation Limited
(02633), which is a leading pharmaceutical company in Hong Kong having an extensive sales
and distribution coverage for both the private and public market sectors in Hong Kong, has
agreed to subscribe at the offer price for an aggregate amount of HK$80 million. This
signifies the Cornerstone Investor's confidence in Tycoon's business and prospects.
The Hong Kong public offering started this morning and will end at noon on 3 April 2020.
The final offer price and allocation results will be announced on 14 April 2020. Trading
in Tycoon's shares will commence on the Main Board of HKEX on 15 April 2020 under the
stock code 3390. Shares will be traded in board lots of 2,000 Shares each.
Shenwan Hongyuan Capital (H.K.) Limited is the Sole Sponsor, and it together with
Soochow Securities International Brokerage Limited are the Joint Global Coordinators,
Joint Bookrunners and Joint Lead Managers. (KL)

Remark: Real time quote last updated: 16/07/2020 17:58
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