Rongli Construction (09639) is listed for the first time. The announcement shows that the price per share is 0.73 Hong Kong dollars, with a total issuance of 0.25 billion shares, and 5,000 shares per lot. The net proceeds are expected to be approximately 0.1497 billion Hong Kong dollars. As of the time of publication, it has fallen by 31.51%, trading at 0.5 Hong Kong dollars, with a turnover of 38.7323 million Hong Kong dollars.
According to Wisdom Financial APP, Rongli Construction (09639) is listed for the first time. The announcement shows that the price per share is 0.73 Hong Kong dollars, with a total issuance of 0.25 billion shares, and 5,000 shares per lot. The net proceeds are expected to be approximately 0.1497 billion Hong Kong dollars. As of the time of publication, it has fallen by 31.51%, trading at 0.5 Hong Kong dollars, with a turnover of 38.7323 million Hong Kong dollars.
It is reported that Rongli Construction is a scaled Hong Kong contractor engaged in civil and cable engineering as well as cecep solar energy photovoltaic system engineering. According to a Frost & Sullivan report, Rongli Construction is the largest cable and civil pipeline installation subcontractor in Hong Kong in 2023, with a market share of approximately 13.6% in the 2023/24 fiscal year.
The company's civil engineering focuses on site leveling and road and canal engineering, while the cable engineering focuses on cable trenching, laying, and connection. As for cecep solar energy photovoltaic system engineering, the company specializes in the design, installation, and maintenance of cecep solar energy photovoltaic systems. In the past, the company has temporarily leased machinery and bought building materials from contractors and subcontractors on a few projects (mainly project #01).