Dow Jones received a payment from EQS/DGAP to publish this press release.
EQS-News / 13/12/2018 / 17:52 UTC+8
Shares of Metropolis Capital Holdings Limited ("Metropolis Capital" or the
"Company", stock code: 8621, together with its subsidiaries, the "Group"), a
well-established vehicle finance leasing company in the PRC, become listed
on the GEM of The Stock Exchange of Hong Kong Limited on 12 December 2018.
The Company's shares were traded at between HK$1.16 and HK$0.45 per share on
the first day of trading and closed at HK$0.55 per share, representing a
premium of 41 per cent on offer price. Approximately 204 million Company's
shares, which are traded in board lots of 8,000 shares each, changed hands,
representing a total turnover of approximately HK$157 million on the first
trading day.
The Company offered a total of 200 million shares, comprising of placing
shares and public offer shares, at an offer price determined at HK$0.39 per
share. The public offer shares have been approximately 37 times subscribed,
while the placing shares being moderately over-subscribed. Due to the
satisfactory response of the public offer, a total of 40 million placing
shares initially available for subscription under the placing had been
reallocated to the public offer. As a result of such reallocation, the
public offer shares as a percentage of the total available shares under the
share offer rises from 10 per cent (prior to the reallocation) to 30 per
cent (i.e. 60 million shares), while the proportion of placing shares is
reduced to 70 per cent (i.e. 140 million shares) from the initial 90 per
cent (prior to the reallocation).
The estimated net proceeds from the share offer of the Company are
approximately RMB34.4 million, of which approximately 95 per cent will be
used to expand its capital base for its finance leasing operations and
approximately 5 per cent to provide funding for its working capital and
other general corporate purposes.
Octal Capital Limited is the sole sponsor, while Emperor Securities Limited
is the lead manager and sole bookrunner, and Success Securities Limited is
the co-lead manager for the IPO of Metropolis Capital.
"The listing of the Company represents a new milestone in its development.
Not only will the proceeds from the share offer enable the Group to
accelerate its business expansion, but the listing status will enhance the
Group's corporate profile and brand image, thereby increasing its ability to
attract potential customers," said Mr David Chau, the chairman of Metropolis
Capital.
About Metropolis Capital
Metropolis Capital is a well-established finance leasing company in the PRC
focusing on vehicle finance leasing. It primarily provides customised
vehicle finance leasing to its customers. Headquartered in Shanghai, the
Group has five branch offices in the PRC namely Shanghai municipality,
Jiangsu province, Guizhou province, Shandong province and Jiangxi province.
The Group differentiates itself by being able to provide flexible and
accessible finance leasing solutions to its customers which suit their
needs. During the track record period, the Group focused its efforts on
providing vehicle finance leasing to SMEs and individuals. The Group's
customers cover more than five provinces, municipalities and autonomous
region.
- End -
Issued by: Metropolis Capital Holdings Limited
Through: CorporateLink Limited
Media Enquiries: CorporateLink Limited
Christine Chan Tel: 2801 6090 Email: christine@corporatelink.com.hk
Kelly Laing Tel: 2801 6045 Email: kellyl@corporatelink.com.hk
David Chau, the chairman of Metropolis Capital Holdings Limited
https://goo.gl/8Gogrq
Document: http://n.eqs.com/c/fncls.ssp?u=ASAXOXHXNT [1]
Document title: Metropolis Capital'S SHARES CLOSED AT HK$0.55 PER SHARE ON
FIRST TRADING DAY, WITH 41% PREMIUM ON OFFER PRICE
13/12/2018 Dissemination of a Marketing Press Release, transmitted by EQS
Group.
The issuer is solely responsible for the content of this announcement.
Media archive at www.todayir.com
1: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=a2f96542ae4bf7bec313a88d149e7b0b&application_id=757735&site_id=vwd&application_name=news
(END) Dow Jones Newswires
December 13, 2018 04:53 ET (09:53 GMT)
