Conch Materials Technology (02560.HK) announced its IPO details, planning to issue 0.145 billion shares globally, with 10% allocated for public sale in Hong Kong and 90% for international sale. The offer price ranges from 3 to 3.3 HKD per share. With 1,000 shares per lot, the entry fee is 3,333.28 HKD. The IPO starts today (December 31 of this year) and will close next Monday (January 6 of next year) at noon, with listing expected next Thursday (January 9 of next year). The exclusive sponsor is China Securities Co.,Ltd.

The company has introduced six cornerstone investors for its listing, including Gotion High-tech (002074.SZ), Anhui Shengchang, Wuhu Ateck, SCGC Capital, Guangdong Zonghang, and Shenzhen Gaodeng, totaling an investment of 0.302 billion RMB in the company's shares.

Using the median offer price of 3.15 RMB, the company is expected to net raise approximately 0.418 billion RMB from the IPO, with about 35% to optimize the group's capacity, while effectively expanding its geographical coverage in China and several overseas countries; about 10% for implementing marketing plans; about 15% for further investing resources into R&D programs that support the company's market position; about 15% for repaying part of the bank loans; about 15% for acquiring companies or establishing joint ventures; and about 10% for working capital and other general corporate purposes.

Conch Materials Technology is a fine chemical materials supplier that produces and sells Cement admixtures, concrete admixtures, and their related upstream raw materials. According to Frost & Sullivan, based on the sales volume and revenue of Cement admixtures for the fiscal year 2023, the company ranks first in China, with market shares of about 28.3% and 32.3%, respectively; specifically, for Cement grinding aids based on sales volume and revenue for the fiscal year 2023, the company also ranks first in China, with market shares of about 34.6% and 34.1%, respectively.