Huisen Household International Group Limited Announces Allotment Results
Release time:2020-12-28
Publisher:Huisen

(December 28, 2020 - Hong Kong) Huisen Household International Group Limited (the “Company”, stock code:2127.HK) today announces the allotment results of the global offering of the shares of the Company (the “Global Offering”). The Offer Price has been determined at HK$1.77 per Offer Share (exclusive of brokerage of 1%, SFC transaction levy of 0.0027% and Stock Exchange trading fee of 0.005%)



Based on the Offer Price of HK$1.77 per Offer Share and the total number of 750,000,000 Offer Shares, the net proceeds from the Global Offering to be received by the Company, after deducting underwriting commission and other estimated expenses payable by the Company in the Global Offering and assuming that the Over-allotment Option is not exercised, are estimated to be approximately HK$1280.7 million.



The Hong Kong Offer Shares initially offered under the Hong Kong Public Offering have been very significantly over-subscribed. A total of 160,100 valid applications pursuant to the Hong Kong Public Offering on WHITE and YELLOW Application Forms and through giving electronic application instructions to HKSCC via CCASS and to the HK eIPO White Form Service Provider under the HK eIPO White Form service through www.hkeipo.hk or the IPO App for a total of 4,006,386,000 Offer Shares were received, representing approximately 53.4 times the total number of 75,000,000 Offer 1 Shares initially available for subscription under the Hong Kong Public Offering.



As the over-subscription in the Hong Kong Public Offering was more than 50 times but less than 100 times of the total number of Offer Shares initially available under the Hong Kong Public Offering, the clawback procedures as disclosed in the section headed ‘‘Structure and Conditions of the Global Offering — The Hong Kong Public Offering — Reallocation’’ in the Prospectus have been applied. A total number of 225,000,000 Offer Shares have been allocated to the Hong Kong Public Offering from the International Offering. As a result of such allocation, the final number of Offer Shares available under the Hong Kong Public Offering has been increased to 300,000,000 Offer Shares, representing four times of the total number of Offer Shares initially available under the Hong Kong Public Offering and 40% of the Offer Shares initially available under the Global Offering (before any exercise of the Over-allotment Option), and being allocated to 50,126 successful applicants under the Hong Kong Public Offering.



The Offer Shares initially offered under the International Offering have been well oversubscribed by approximately 2.25 times. There are a total of 213 placees under the International Offering. A total number of 72 placees have been allotted 5 board lots of Shares or less, representing approximately 33.8% of total number of placees under the International Offering. These placees have been allotted approximately 0.04% of the 450,000,000 Offer Shares available under the International Offering after reallocation and approximately 0.02% of the Offer Shares under the Global Offering (before any exercise of the Over-allotment Option). The final number of Offer Shares allocated to the placees under the International Offering is 450,000,000 Offer Shares, representing 60% of the total number of Offer Shares initially available under the Global Offering (before any exercise of the Over-allotment Option).



In connection with the Global Offering, the Company has granted the Over-allotment Option to the International Underwriters, exercisable by the Sole Global Coordinator (on behalf of the International Underwriters), pursuant to which the Sole Global Coordinator may, at any time from the Listing Date until 30 days from the last day for the lodging of applications under the Hong Kong Public Offering (i.e. Sunday, 17 January 2021), require the Company to allot and issue up to 112,500,000 additional Shares, representing 15% of the Shares initially being offered under the Global Offering, at the Offer Price to cover over-allocations in the International Offering. There has been an over-allocation of 112,500,000 Shares in the International Offering and such over-allocation will be settled using Shares to be borrowed under the Stock Borrowing Agreement between Pure Cypress and the Stabilising Manager. Such borrowed Shares may be covered by exercising the Over-allotment Option or by making purchases in the secondary market at prices that do not exceed the Offer Price or a combination of these means. In the event the Over-allotment Option is exercised, an announcement will be made on the Stock Exchange’s website at www.hkexnews.hk and the Company’s website at www.jxhmgroup.com. As of the date of the announcement, the Over-allotment Option has not been exercised.



Based on the Offer Price of HK$1.77 per Offer Share (exclusive of brokerage of 1.0%, SFC transaction levy of 0.0027% and Stock Exchange trading fee of 0.005%), and pursuant to the cornerstone investment agreements entered into by, among others, the Company and Cornerstone Investors (the ‘‘Cornerstone Investment Agreements’’), the Cornerstone Investors have subscribed for 351,716,000 Offer Shares, representing in aggregate approximately 46.9% of the total number of Offer Shares initially available under the Global Offering (before any exercise of the Over-allotment Option) and approximately 11.7% of the Shares in issue immediately following completion of the Global Offering (before any exercise of the Over-allotment Option).



China Securities (International) Corporate Finance Company Limited is the Sole Sponsor and the Sole Global Coordinator. China Securities (International) Corporate Finance Company Limited, Hung Sing Securities Limited, Lead Securities (HK) Limited and SBI China Capital Financial Services Limited 2 3 are the Joint Bookrunners and the Joint Lead Managers.

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