Core Viewpoint - The listing of Aux Electric on the Hong Kong Stock Exchange was met with a strong market response, despite an initial drop in share price on the first trading day [1][3]. Group 1: IPO Details - Aux Electric's shares were priced at HKD 17.42, but opened at HKD 16.1, representing a decline of over 7% [1]. - The IPO was significantly oversubscribed, with a 557.2 times oversubscription in the Hong Kong public offering and an 8.3 times oversubscription in the international placement [3]. - The final number of shares allocated in the international offering was 154.9 million, accounting for 65% of the total shares offered [3]. Group 2: Market Performance - Despite the strong public interest, the stock's performance in the dark market prior to the official listing was poor, closing at HKD 16.68, down 4.25% from the issue price [3]. - Investors faced a loss of approximately HKD 148 per lot (200 shares) based on the dark market price [3]. Group 3: Company Overview - Aux Electric is one of the top five air conditioning providers globally, with a market share of 7.1% projected for 2024 [4]. - The company has a compound annual growth rate (CAGR) of 30% in sales from 2022 to 2024, significantly outpacing the global air conditioning market's growth rate of 4.6% during the same period [4]. - The net proceeds from the IPO are approximately HKD 39.94 billion, with allocations of 20% for global R&D, 50% for upgrading smart manufacturing and supply chain management, 20% for enhancing sales and distribution channels, and 10% for working capital and general corporate purposes [4].
奥克斯电气（02580.HK）今日在港交所挂牌交易，开盘跌破发行价