Hysan Pre-market rises by over 2%, expected to raise approximately 4.16 billion Hong Kong dollars through a Hong Kong IPO.

Hesa pre-market rose more than 2%, to $28.57. On the news front, Hesa announced on the Hong Kong Stock Exchange last night that the final offering price for the international offering and the Hong Kong public offering has been determined at HK$212.8 per share. The over-allotment option has been exercised, and as a result, the company will issue and distribute an additional 2,550,000 shares at the offering price, representing 15% of the total number of shares initially available for subscription in the global offering. The company expects to raise a total of HK$4.1624 billion from the global offering. The company plans to use the net proceeds from the global offering for the following purposes: approximately 50% for research and development investment; approximately 35% for production capacity investment; approximately 5% for business development; and approximately 10% for working capital and general corporate purposes.