[ET Net News Agency, 7 December 2020] Vesync Co., Ltd (02148), one of the market
players in the small home appliance online market in the United States, intends to offer
an aggregate of 281 million shares (subject to the over-allotment option), of which 252.9
million shares (subject to the Over-allotment Option and re-allocation) will be for
International offering and 28.1 million (subject to reallocation) will be for Hong Kong
public offering.
The indicative offer price ranges between HK$4.68 and HK$5.52 per share. Assuming the
over-allotment option is not exercised and an offer price is set at HK$5.10 per share
(being the mid-point of the offer price range), the estimated net proceeds from the
offering will amount to HK$1,330 million after deducting underwriting commissions and
other estimated expenses in connection with the global offering.
The Hong Kong public offer will start tomorrow. It will end at noon on 11 December. The
final offer price and allocation results will be announced on or before 17 December.
Trading in Vesync's shares will commence on the Main Board on 18 December 2020.
BNP Paribas Securities (Asia) and Innovax Capital are the Joint Sponsors of the listing.
BNP Paribas Securities (Asia) and Innovax Securities are the Joint Global Coordinators.
BNP Paribas Securities (Asia), Innovax Securities Limited, Haitong International
Securities Company, China Industrial Securities International Capital, UOB Kay Hian (Hong
Kong) and CMBC Securities Company are the Joint Bookrunners and Joint Lead Managers.
The group primarily focuses on the online marketing and sales of self-designed and
-developed small home appliances and smart home devices under its increasingly recognized
brands, which are mainly sold on Amazon. (KL)