Venture(US:VEMLY) Zheng Quan Shi Bao·2025-07-23 18:52Core Viewpoint - The company is set to issue 10,466 million shares in an initial public offering (IPO) on the ChiNext board, with a strategic placement of 31,398,000 shares, accounting for 30% of the total issuance [8][11][23]. Group 1: Issuance Details - The initial strategic placement will consist of 31,398,000 shares, with the underwriter's related subsidiary participating with 5% of the total issuance, equating to 5,233,000 shares [11][23]. - The total number of shares for offline issuance is 58,610,000, representing 80% of the remaining shares after deducting the initial strategic placement, while online issuance will account for 14,652,000 shares, or 20% [12][24]. - The final number of shares for both offline and online issuance will be determined based on the allocation mechanism and will be disclosed in the announcement on T+1 day [12][24]. Group 2: Investor Participation - The issuance will adopt a combination of directed placement to strategic investors, offline inquiry for qualified investors, and online pricing for public investors holding non-restricted A-shares [2][8]. - Only qualified institutional investors, such as registered securities companies, fund management companies, and insurance companies, can participate in the offline inquiry [32][33]. - Each participating entity in the offline issuance has a minimum subscription of 1 million shares, with a maximum of 30 million shares [4][5]. Group 3: Pricing and Allocation Mechanism - The pricing for the issuance will be determined through offline inquiries without cumulative bidding [16][32]. - The allocation mechanism will allow for adjustments between offline and online issuance based on demand, with the final allocation details to be published in the preliminary allocation results announcement [9][10][25]. - The strategic placement will be subject to a lock-up period of 12 months for other investors and 24 months for the underwriter's subsidiary [30][31]. Group 4: Important Dates - The preliminary inquiry period is set for July 29, 2025, from 9:30 AM to 3:00 PM [13][19]. - The online roadshow will be organized on July 31, 2025, to provide further information to investors [4][22]. - The final strategic placement results will be disclosed on August 5, 2025 [25].