Linklogis Inc. to Raise US $ 989 Million in Hong Kong IPO
By PR Venkat
Tencent-backed Linklogis Inc. to Raise HK $ 7.71 billion (US $ 989.1 million) in net proceeds from initial Hong Kong public offering, to join list of companies operating in active market fundraising.
The Shenzhen-based supply chain finance platform, which sold 452.8 million shares, set the IPO price at HK $ 17.58 a piece, Linklogis said Thursday.
The company had already secured investments from investors like BlackRock Inc., Fidelity and Sequoia Funds, who had agreed to subscribe to part of the shares of Linklogis before the IPO.
Linklogis shares will begin trading on the Hong Kong Stock Exchange from Friday.
The company intends to use the proceeds from the IPO to expand its cross-border operations, boost research and development, and make investments and acquisitions, among other things, according to the filing.
The company is also part of a consortium that was licensed in December to operate a digital wholesale bank in Singapore. He expects the bank to launch in 2022, offering trade and supply chain finance products, including letters of credit, working capital loans and cross-border payments.
Goldman Sachs, Citigroup and CICC are among the advisers of the offer.
Write to PR Venkat at [email protected]
(END) Dow Jones News Wire