Vicon Holdings (03878) kicks off IPO for HK$73m

[ET Net News Agency, 12 December 2017] Vicon Holdings (03878), a specialist foundation
contractor focusing on design-and-build foundation projects in Hong Kong private sector,
today announced that it plans to issue a total of 100 million shares, of which 90% or 90
million shares (subject an over-allotment option) will be offered to institutional
investors under international offering, and the remaining 10% or 10 million shares will be
offered to members of the public in Hong Kong.
The indicative offer price range is between HK$1 and HK$1.2 per share.
Net proceeds to be received by the group from the global offering are estimated to be
HK$73 million, assuming an Offer Price of HK$1.1, being the mid-point of the indicative
offer price range. The number of the offer shares represents a public float of 25% of the
enlarged number of shares in issue.
The Hong Kong public offering commenced today, and will end at noon on 15 December. The
final offer price and results of allocation are expected to be announced on 21 December.
Dealings of shares on the main board of stock exchange is expected to commence on 22
December.
Innovax Capital is sole sponsor of the listing, while Sun International Securities is
sole bookrunner of the share offer. (KL)