Changxin Technology sets IPO price at 8.66 yuan per share for STAR Market listing

The company priced its STAR Market IPO and completed strategic placement allocation of 3.344044304 billion shares, while 7,702,207 online winning numbers were issued and investor payments were due by July 20.

38d ago

Fact Check

Multiple independent sources corroborate every element of the claim. The odaily newsflash confirms the 8.66 yuan/share price, the July 20 publication of lottery results, and the July 20 payment deadline. BlockBeats confirms the exact figure of 7,702,207 winning numbers and the 8.66 yuan price. Eastmoney and cnfin independently confirm the 8.66 yuan STAR Market IPO price announced July 14. There is no conflicting evidence.

Summary

Changxin Technology priced its initial public offering at 8.66 yuan per share for a planned listing on Shanghai’s STAR Market, with an initial issuance of about 6.688 billion shares. The Shanghai Stock Exchange said the company completed payment and allocation for the strategic placement tranche, which totaled 3.344044304 billion shares, or 50.00% of the initial offering. The issuer and joint lead underwriters also conducted the online subscription lottery on July 17, generating 7,702,207 winning numbers, each eligible to subscribe for 500 A shares. Offline investors were required to pay in full by 16:00 on July 20, and online investors had to ensure sufficient funds were available by the end of that day or forfeit their allocation.

Terms & Concepts

STAR Market: Shanghai’s technology-focused stock market board
strategic placement: IPO shares allocated to selected investors before broader distribution
A shares: Mainland China-listed common shares