WellCell Successfully Listed on the Main Board of The Stock Exchange of Hong Kong Limited
- Written by: Daily Bulletin
- Published in News from Asia
Closing Price on Debut Day 164% Higher than Offer Price
HONG KONG SAR - Media OutReach Neswire - 12 January 2024 - WellCell Holdings Co., Limited ("WellCell" or the "Company"; together with its subsidiaries, the "Group", stock code: 2477), a comprehensive telecommunication network support and ICT integration service provider and software developer in the PRC, is successfully listed on the Main Board of The Stock Exchange of Hong Kong Limited ("HKEX") today.
Caption: Mr. Jia Zhengyi, Executive Director, Chairman of the Board and CEO of WellCell (4th from right), Mr. Kang Hong, Deputy Secretary-General of Zhuhai Municipal People's Government (3rd from right). Mr. Cong Bin, Executive Director (2nd from left), Mr. Lin Qihao, Non-executive Director (3rd from left), Mr. Yu Tao, Vice General Manager (2nd from right), Ms. Chen Shenmao, Vice General Manager and Financial Controller (4th from left), joint sponsors Mr. Derek Chan of Halcyon Capital (1stfrom right) and Mr. Thomas Yu, Managing Director of Eddid Capital (1st from left), attended the listing ceremony.
With an offer price of HK$1.00 per share, WellCell closed at HK$2.64 per share, a significant 164% increase from the offer price, reflecting the enthusiastic response from the investing community.
Halcyon Capital Limited and Eddid Capital Limited, member of Eddid Financial Group, are the Joint Sponsors. As a member of Eddid Financial Group, Eddid Securities and Futures Limited is the Sole Overall Coordinator, Joint Global Coordinator, Joint Bookrunner and Joint Lead Manager. Halcyon Securities Limited, China Everbright Securities (HK) Limited, Beta International Securities Limited, CMBC Securities Company Limited, China PA Securities (Hong Kong) Company Limited and Quam Securities Limited are the Joint Global Coordinators, Joint Bookrunners and Joint Lead Managers. Maxa Capital Limited, SBI China Capital Financial Services Limited, SPDB International Capital Limited, Innovax Securities Limited, Cinda International Capital Limited, Patrons Securities Limited, ZMF Asset Management Limited and Goldlink Securities Limited are the Joint Lead Managers.
The Group intends to use the net proceeds from the Global Offering to finance the initial funding needs for its future ICT integration projects, pursue new research and development undertakings, expand its manpower in project management to cater for the anticipated expansion plans and business growth, finance its sales and marketing funding needs for expansion of manpower and marketing activities, repay part of its bank borrowings and for its general working capital purposes.
Mr. Jia Zhengyi, Executive Director, Chairman of the Board and CEO of WellCell says, "The successful listing of WellCell on the Main Board of HKEX today has marked an important milestone for the company. We are greatly honored that the Share Offering has been well received by all investors. Going forward, as a comprehensive telecommunication network support and ICT integration service provider in the PRC, WellCell will continue to enhance our core competitive advantages, accelerate our business growth, seize the opportunities, increase our market share, and continue to endeavour to generate substantial returns for our partners, shareholders and investors."
Hashtag: #WellCell
The issuer is solely responsible for the content of this announcement.
Daily Bulletin
