On September 9, 2024, Guangdong Syntrust Gk Testing And Certification Tech Service Center Co., Ltd. (08629.HK), a state-owned inspection and testing service provider from Maoming, Guangdong, successfully listed on the main board of the Hong Kong Stock Exchange.

Syntrust Gk completed its IPO by globally offering 10.179 million H shares, accounting for 30% of the total shares after the offering. The offering price per share was HKD 9.90, raising a total of approximately HKD 0.101 billion in funds, with a net proceeds of approximately HKD 59.4 million. Syntrust Gk's IPO received a subscription ratio of 14.33 times.

Syntrust Gk, established in 2000, is mainly engaged in construction engineering testing and inspection services. Its main customers are located in Maoming, Guangdong Province, China. The range of testing services provided by the company mainly includes foundation and infrastructure testing services, building material testing services, and building structure testing services. The company also provides slope monitoring and foundation pit monitoring services, among other testing services.

According to the prospectus, after the listing, the shareholding structure of Syntrust Gk consists of 56% held by the Housing and Urban-Rural Development Bureau of Xinyi City's subordinate institution, Xinyi Construction Engineering Quality and Safety Affairs Center; 14% held by Xinyi Finance Bureau through Xinyi Xinhui; and 30% held by public shareholders.

Syntrust Gk was originally scheduled to begin trading on September 6, but due to the impact of Typhoon Makyo, the Hong Kong Stock Exchange was closed all day on September 6. September 9 was the first trading day of Syntrust Gk's Hong Kong shares.

The intermediary team for Syntrust Gk's IPO listing includes:

Huajin Financial and Yuexiu Financing as the joint sponsors, overall coordinators, joint bookrunners, and joint lead managers;

Edison Securities, Hongli Capital, Moor Securities, and Orient Securities as the joint bookrunners and joint lead managers;

PwC is its auditor;

Jingtian & Gongcheng, Lobo & Partners are its China lawyer, Hong Kong lawyer respectively;

Tongshang, Zhou Junxuan (Tongshang Joint Venture) are its brokerage China lawyer, brokerage Hong Kong lawyer respectively;

Zhuoshi Consulting is its industry consultant.

Jiexin Group IPO prospectus link:

https://www1.hkexnews.hk/listedco/listconews/gem/2024/0826/2024082600046_c.pdf