HONG KONG - NVC Lighting, one of the Chinese mainland's leading suppliers of lighting products, said Wednesday that the price of its initial public offering was set at HK$2.1 (26.9 cents) per share and the net proceed of its IPO was about HK$1.37 billion ($175.59 million).
In a statement filed to the Hong Kong stock exchange, NVC Lighting said its shares in the public tranche were almost 39 times oversubscribed and the final number of new shares for global offering was 218.26 million. While shares for the international placing amounted to 509.28 million.
NVC Lighting, based in South China's Guangdong Province, is set to debut on the Hong Kong stock exchange on Thursday.
