Core Viewpoint - Quantitative Company (2685.HK) has launched its IPO and is expected to be listed on the Hong Kong Stock Exchange on November 27, with a global offering of 13.3475 million shares priced between HKD 8.8 and 9.8, aiming to raise approximately HKD 124 million [1][2]. Group 1: IPO Details - The estimated net fundraising amount for Quantitative Company is only HKD 5.8 million, as over 90% of the IPO proceeds will be used to cover listing expenses, totaling HKD 117 million [3]. - The company has engaged six coordinators/advisors, including CICC and CITIC Securities, which significantly reduced the net proceeds from the IPO [3]. Group 2: Business Model - Quantitative Company's core business involves providing matching services for financial institutions, connecting them with qualified borrowers, similar to a financial intermediary [4]. - The company has ceased providing these matching services to comply with regulatory scrutiny, particularly in light of the draft regulations on financial product marketing [7]. Group 3: Regulatory Environment - The draft regulations, which have not yet come into effect, aim to regulate financial product marketing and protect consumer rights, posing challenges for companies like Quantitative Company that operate in this space [5][6]. - Previous IPO attempts by similar companies have faced regulatory challenges, indicating a cautious environment for financial intermediaries seeking to go public [6].