Morimatsu International eyes $2.48 per share price in global offering

The manufacturing firm will issue 250 million shares in its global offering.

Manufacturing firm Morimatsu International Holdings Company Limited is set to price its share between $2.2 and $2.48 per share in its global offering.

The global offering would comprise of 250 million shares, 25 million for Hong Kong; whilst the other 225 million will be under international offering.

The company estimated it could generate between RMB417.9m and RMB475.7m in net proceeds, or approximately, $506.4m-576.4m.

Assuming the shares are offered at the midpoint price of $2.34, the company estimates the aggregate net proceeds will be around $505m. This takes into account underwriting fees and estimated expenses.

Around 60%, or $303.2m, of the proceeds will be earmarked to enhance the company’s production capacity and capability.

Some 13.2%, or $66.6m, will fund enhancements in its service capability, 12%, or $60.5m will be used to advance its internationalisation strategies.

The remaining will be used for research and development and other general corporate purposes.

Morimatsu is a pressure equipment manufacturer and provider of integrated pressure equipment solutions in China.

Follow the links for more news on

Join Hong Kong Business community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Top News

Gov’t deficit hits $183b 
The government took into account the proceeds of $20b received from the issuance of green bonds.   The government recorded a deficit of $183b in the first five months of the current financial year, taking into account the proceeds of $20b received from the issuance of green bonds.   There was a deficit because some major types of revenue like salaries and profits taxes are received towards the end of a financial year.    In the first five months, government expenditure was $319.2b, whilst revenue was $116.2b.
Economy