Venture(US:VEMLY) Shang Hai Zheng Quan Bao·2025-12-14 20:36Core Viewpoint - Shenzhen Tiansu Measurement Testing Co., Ltd. has received approval for its initial public offering (IPO) of RMB ordinary shares (A-shares) and listing on the ChiNext board, with the issuance price set at 36.80 yuan per share and a total of 16,304,348 shares to be issued [1][2]. Issuance Details - The issuance will be conducted through a combination of strategic placement to selected investors, offline pricing for qualified investors, and online pricing for the general public [1]. - The final strategic placement quantity is 1,630,434 shares, accounting for 10.00% of the total issuance, down from an initial 15.00% [2]. - The initial offline issuance quantity is 10,516,414 shares, representing 71.67% of the total issuance after deducting the strategic placement [3]. Subscription and Payment Process - Investors must ensure that subscription funds are fully received by the deadline of December 16, 2025, or their allocation will be invalidated [4]. - The online issuance shares will have no restrictions on circulation, while offline shares will have a 6-month lock-up period for 10% of the allocated shares [5]. Allocation and Rebalancing Mechanism - If the total subscription from offline and online investors falls below 70% of the total issuance after deducting the strategic placement, the IPO will be suspended [6]. - The online issuance received a total of 49,398,743,000 shares in valid subscriptions, with an effective subscription multiple of 11,881.84 times [7]. - After the rebalancing, the final online issuance quantity is 7,092,500 shares, while the offline issuance quantity is 7,581,414 shares [8]. Lottery and Announcement - The lottery for the online subscription will take place on December 15, 2025, with results announced on December 16, 2025 [9].