Home Control International Limited Announces Share Offer Allotment Results
Hong Kong Offer Shares 16.14 Times Subscribed
OfferPrice Set at HK$1.02 Per Share
Trading Debut on 14 November,2019
HONG KONG,Nov. 13,2019 -- Home Control International Limited (The "Company",Stock Code: 1747.HK and together with its subsidiaries,the "Group"),a globally leading home control solution provider headquartered in Singapore,announced the allotment results of Share Offer,with Hong Kong Offer Shares of 16.14times subscribed. The International Offer Shares initially offered under the International Offering have been moderately over-subscribed. TheOfferPrice has been determined at HK$1.02 per OfferShare.
Home Control International Limited is issuing a total of 12,500,000Shares in its Hong Kong Share Offer.As the Hong Kong Public Offering is over-subscribed,25,000,000 Offer Shares have been reallocated to the Hong Kong Public Offering from the International Offering. As a result of such reallocation,the final number of Offer Shares allocated to the Hong Kong Public Offering is 37,000 Offer Shares,representing 30% of the total number of Offer Shares initially available under the Global Offering (before the exercise of the Overallotment Option).Based on the final Offer Price of HK$1.02 per Offer Share,the net proceeds from the GlobalOffering to be received by the Company,after deduction of the underwriting commissions and other estimated expenses in connection with the Global Offeringand assuming no exercise of the Over-allotment Option,is estimated to beapproximately HK$86.17 million. Dealings in the Shares on the Main Board of The Stock Exchange of Hong Kong Limited are expected to commence on 14 November 2019 (Thursday). The stock code of the Shares is 1747.HK. The Shares will be traded in board lots of 2,000 Shares each.
Mason Global Capital Limited is the Sole Sponsor; Mason Securities Limited is the Sole Global Coordinator; Mason Securities Limited,Yuanta Securities (Hong Kong) Company Limited,SPDB International Capital Limited,Fortune (HK) Securities Limited,Shanxi Securities International Limited and Alpha Financial Group Limited are the Joint Bookrunners and Joint Lead Managers.
Mr. Alain Perrot,CEO & Executive Director,said,"We are glad to see the support from investors on the Share Offer which showed the market's overall recognition of the Company's ability and their strong support in our future growth potential.We believe that with this listing,it provides us with the capital necessary to maintain our competitiveness in a rapidly evolving industry,enables us to increase our exposure and raises our profile in international markets. We believe that our competitive advantages will enable us to maintain sustainable growth in our business and create long-term shareholders' value."
Home Control International Limited (Stock Code: 1747.HK)
As being the second largest global home control solution provider,the Company develops and offers home control solutions to mainly MSOs,TV and OTT device brands and / or their respective suppliers over the past 25 years. The Company has worldwide presence in North America,Europe,Asia and Latin America and solid partnership with blue-chip customers,such as AT&T,SkyUK,Xiaomi,etc. In addition,the Company has seasoned innovation and R&D teams which comprise over 80 qualified engineers and own over 200 invention patents.
This press release is not for publication or distribution,directly or indirectly,in or into the United States.
This press release is for information purposes only and does not constitute an offer or an invitation to induce an offer by any person to acquire,purchase or subscribe for the securities of Home Control International Limited (the "Company"). Potential investors should read the prospectus issued by the Company on 31 October 2019(the "Prospectus") for detailed information about the Company and the Share Offer.
This press release is not for release,publication or distribution,in or into the United States (including its territories and possessions,any state of the United States and the District of Columbia). This press release does not constitute or form a part of any offer to sell or solicitation to purchase or subscribe for securities in the United States or in any other jurisdictions. The Offer Shares have not been and will not be registered under the United States Securities Act of 1933,as amended from time to time (the "U.S. Securities Act"),or any state securities laws of the United States or other jurisdictions,other than Hong Kong,and may not be offered,sold,pledged or transferred or delivered within the United States unless pursuant to an exemption from,or in a transaction not subject to,the registration requirements of the U.S. Securities Act or any applicable state securities laws of the United States. The Offer Shares may only be offered and sold outside of the United States in offshore transactions in accordance with Regulation S under the U.S. Securities Act. There will be no offer or sale of the Offer Shares in the United States.
Note: Unless otherwise defined,terms in this press release shall have the same meanings as those defined in the Prospectus together with any supplement thereto.
