Shanghai Precilasers' IPO Triggers Clawback After Strong Retail Demand

MT Newswires Live

Aug 13

Shanghai Precilasers' (SHA:688826) Shanghai STAR Market IPO has triggered a mandatory clawback reallocation after retail demand exceeded thresholds, according to a bourse filing on Thursday.

During the preliminary subscription phase, the online retail pool was oversubscribed by 6,644.98 times, well above the regulatory limit of 100 times.

CITIC Securities, the lead underwriter, decided to activate the clawback mechanism to adjust the scale of the offline and online offerings.

Following the move, the final online offering size was increased to 39.6% of the total IPO size from the initial 29.6%, while the proportion of the offline or strategic offering was reduced to 60.4% from the initial 70.4%.

The laser maker sold 10 million shares at 186.88 yuan per share, raising 1.87 billion yuan.

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