New stock news | Delton Technology(01989) has finished its IPO subscription with a total subscription amount of 358.1 billion Hong Kong dollars, oversubscribed by 1072 times.

PCB manufacturer Delton Technology (01989) launched its IPO from March 12, 2026 to March 17, 2026, and the IPO has now concluded. According to market reports, Delton Technology's public offering received subscriptions from 200,000 people, with oversubscription reaching 35.81 billion Hong Kong dollars, based on a total public offering amount of 331 million Hong Kong dollars, oversubscribed by 1072 times. Delton Technology plans to globally offer 46 million H-shares, with 10% offered in Hong Kong and 90% internationally. The highest offering price is 71.88 Hong Kong dollars per share, with a lot size of 100 shares and a minimum subscription fee of 7260.5 Hong Kong dollars per lot, raising up to 33.1 billion Hong Kong dollars. The company is expected to list for trading on March 20 (Friday), with CITIC SEC and HSBC as its joint sponsors. For this IPO, Delton Technology has attracted 12 cornerstone investors, including CPE, Source Peak Asset Management and Guotai Junan Investment (on an off-market basis related to Source Peak's total return swaps), Shanghai Jinglin and CITIC SEC International Capital Management (on a back-to-back basis related to CITIC SEC's total return swaps and CITIC SEC's client total return swaps), Jinglin Hong Kong, UBS AM Singapore, Wellington, Eastspring, GBAHIL, MY Asian, Barling, Allianz, ICBC Wealth Management. The cornerstone investors have agreed to subscribe at the offering price or cause their designated entities to subscribe for a total value of approximately 190 million US dollars in shares, subject to a lock-up period of 6 months. The prospectus shows that Delton Technology is mainly engaged in research and development, production, and sales of customized PCBs for application in computing power servers and other computing scenarios. According to Frost & Sullivan data, based on cumulative revenue from computing power server PCBs from 2022 to 2024, the company ranks third among global computing power server PCB manufacturers and first among mainland China-based computing power server PCB manufacturers. Delton Technology provides PCBs for computing scenarios, industrial scenarios, and consumer scenarios, with a primary focus on computing scenarios. The company's industry position is dependent on long-term cooperative relationships with well-known downstream customers. According to Frost & Sullivan data, during the historical period, Delton Technology's clients in the computing power server sector included eight of the top ten global server manufacturers (based on 2024 revenue). As of September 30, 2025, the company had been cooperating with several leading global server manufacturers for over ten years. Financially, in the fiscal years 2022, 2023, 2024, and the nine months ending September 30, 2025, the company achieved revenues of approximately 2.412 billion yuan, 2.678 billion yuan, 3.734 billion yuan, and 3.835 billion yuan, respectively. During the same periods, comprehensive income totaled approximately 280 million yuan, 415 million yuan, 680 million yuan, and 718 million yuan, respectively. Assuming an offering price of 71.88 Hong Kong dollars per share, the company estimates it will receive net proceeds of approximately 31.754 billion Hong Kong dollars from the global offering. Approximately 19.7% of the net proceeds are expected to be used for the company's Thailand Phase 2 base; approximately 52.1% of the net proceeds are expected to be used for expanding and upgrading the production facilities in the company's Guangzhou base; approximately 10.0% of the net proceeds are expected to be used for enhancing the company's R&D capabilities in developing materials technology, improving production processes, and product development; approximately 8.2% of the net proceeds are expected to be used for seeking strategic partnership relationships, investments, or acquisition projects that complement the company's business and align with its development strategy. Approximately 10.0% of the net proceeds are expected to be used for operating capital and general corporate purposes.