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<IPO>ESTUN (02715.HK) Begins IPO Today with Entry Fee of $3,434.29
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ESTUN (02715.HK), a Chinese industrial robotics company, announced its plan to list in Hong Kong, aiming to globally offer 96.78 million shares, with 10% for public offering in Hong Kong and 90% for international placement. The IPO price ranges from HKD15.36 to HKD17 per share.

The entry fee for one board lot (200 shares) is HKD3,434.29. The subscription period starts today (February 27) and will end at noon next Wednesday (March 4), with shares expected to trade on the Hong Kong Stock Exchange on March 9. The sole sponsor is Huatai International.

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The IPO attracted seven cornerstone investors, including Harvest Oriental, a subsidiary under HENGTONG OPTIC-ELECTRIC (600487.SH), Dream'ee HK Fund, Haitian Huayuan under HAITIAN INT'L (01882.HK), and a subsidiary under NET-A-GO TECH (01483.HK), collectively subscribing to USD66.91 million worth of shares.

Based on the midpoint of the IPO price at HKD16.18, the listing is expected to raise net proceeds of approximately HKD1.486 billion.
AASTOCKS Financial News
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