China's Asia Vets and smart cabin solution provider Youjia Innovation (02431.HK) announced the details of its IPO, planning to publicly offer 39.19 million shares, with 10% for public offering in Hong Kong and 90% for international placement. The price per share ranges from 17 to 20.2 yuan. With a lot size of 200 shares, the entry fee is 4,080.75 yuan. The subscription for this stock starts today (17th) and ends at noon on Friday (20th), with the expected listing on next Friday (27th). The joint sponsors are CITIC SEC and CICC.
The company has introduced two cornerstone investors for its IPO, including Hong Kong International and Horizon Together under Horizon Robotics (09660.HK), which will collectively subscribe for approximately 0.54 billion yuan of the company's shares.
Based on the median offering price of 18.6 yuan, the company is expected to net approximately 0.666 billion yuan from the IPO, of which about 40% is intended to enhance research and development capabilities and to recruit and retain related R&D talent; about 30% for improving production efficiency and solution competitiveness; about 20% for strengthening sales and marketing capabilities; and about 10% for working capital and general corporate purposes.