Core Viewpoint - King Leaf International Group (08549), a local electromechanical engineering contractor in Hong Kong, has successfully completed its IPO subscription, achieving a record oversubscription rate of 9,030 times, making it the highest in history for IPO oversubscription in Hong Kong [1][2]. Group 1: IPO Details - The IPO subscription period was from September 30 to October 6, with a public offering amounting to HKD 6.5 million [1]. - King Leaf plans to issue 100 million H-shares, with 10% allocated for public offering, and the share price range set between HKD 0.45 and HKD 0.65, aiming to raise between HKD 45 million and HKD 65 million [1]. - The company is expected to be listed on the GEM of the Hong Kong Stock Exchange on October 10, with the underwriting handled exclusively by the same financing firm [1]. Group 2: Company Background - King Leaf International has a history dating back to 2006, focusing on the supply, installation, and maintenance of HVAC, electrical, and water supply systems, primarily undertaking private projects as the main contractor [1]. - Over the past two years, private project revenue accounted for more than 97% of total revenue, with main contractor revenue exceeding 86% [1]. - The company has completed over 2,000 projects of various scales and currently has 187 projects in hand as of July 31, 2025 [1]. Group 3: Financial Performance - For the fiscal year ending March 2024, King Leaf reported a 26% year-on-year increase in annual revenue to HKD 154 million, with a 36% increase in profit to HKD 14.07 million [2]. - However, the company anticipates a significant decrease in net profit for the fiscal year 2025/26, primarily due to expenses related to the IPO [2]. - The company plans to allocate approximately 56.1% of the net proceeds from the IPO to cover upfront costs for new projects, 32.6% for hiring new staff and leasing additional office space, 1.3% for upgrading the "GL ERP" system, and the remainder for general working capital [2].
新股消息 | 金叶国际集团(08549)招股结束 认购额达587亿港元 超购9030倍