YesAsia’s Hong Kong Exchange IPO debut oversubscribed for over 100 times

The company’s offer price saw an increase of 5.5% on its firs day closing price.

E-commerce platform for Asian fashion and lifestyle, beauty and entertainment products YesAsia Holdings Limited had a successful debut on the Main Board of The Stock Exchange of Hong Kong Limited which saw its initial public offering oversubscribed.

The company initially intended to offer 39,540,000 new shares (Offer Shares) at an indicative offer price range of $3.00 to $3.33 per share. About 35,586,000 Shares or 90% of the Offer Shares will be available for placing with institutional and professional investors (International Offering), whilst about 3,954,000 Shares or 10% of the Offer Shares will be available for subscription by the public in Hong Kong (Hong Kong Public Offering).

However, the Hong Kong Public Offering, as part of its Global Offering, was approximately 145.3 times subscribed whilst the International Offering was moderately oversubscribed. The Offer Price was set at $3.28 per share.

The total number of the Offer Shares available under the Hong Kong Public Offering will be 19,770,000 Offer Shares, representing 50% of the Offer Shares initially available under the Global Offering, whilst the number of Offer Shares available under the International Offering Placing will be adjusted to 19,770,000 Offer Shares.

Meanwhile, the offer price of the company's shares was set at $3.28 per share, and the first-day closing price was $3.46 per share, representing a 5.5% increase.