Pinwan News on September 28, according to Jiemian News, Leap Motor released its IPO price and results announcement in Hong Kong. The company offered about 130.8 million shares globally, including 2.1464 million Hong Kong offering shares and about 1.287 international offering shares. 100 million shares, and another 15% over-allotment option.
The final offer price is set at HK$48 per offer share, with a board lot size of 100 shares; JPMorgan Chase, CICC, Citi and CCB International are the joint sponsors; the shares are expected to be listed on the Stock Exchange on September 29, 2022 Listed on the main board. Assuming the over-allotment option is not exercised, the net proceeds from the global offering to be received by the company are estimated to be approximately HK$6,057.4 million. The company intends to use about 40% of the net proceeds for research and development; about 25% will be used to enhance production capacity to further enhance vertical integration and operational efficiency; about 25% will be used to expand sales and service networks and enhance brand awareness; About 10% will be used for working capital and general corporate purposes. If the Over-allotment Option is exercised in full, the Company will receive additional net proceeds of approximately HK$918.3 million for the 19,622,800 Offer Shares to be issued as a result of the exercise of the Over-allotment Option.
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