Final offer price is set near the top end of the indicative offer price range at HK$2.28 per offer share
D&G Technology Holding Company Limited (“D&G Technology” or the “Group”), a leading medium-to-large scale asphalt mixing plant manufacturer and service provider in China, today announced the allotment results of its global offering of 150,000,000 shares. The public offer of 15,000,000 shares initially available was approximately 162 times over-subscribed and the international placing of 135,000,000 shares initially available was significantly over-subscribed. The share price is fixed at HK$2.28 per share – near the top end of the indicative offer price range. Trading of the shares on the Main Board of the Stock Exchange of Hong Kong will begin on 27 May 2015 (Wednesday), under the stock code 1301.
The significant over-subscription of the public offer has triggered a claw-back mechanism in which the number of shares for public offering has been increased from the original 10 percent of the total number of global offering shares to 50 percent, with the number of shares for international placing changed from the original 90 percent to 50 percent. As a result, the number of shares for the public offering has been increased to 75,000,000 shares, and the number of shares for international placing has been changed to 75,000,000 shares. D&G Technology has granted an over-allotment option to over-allocate an additional 22,500,000 shares to institutional investors under the placing tranche.
BOCOM International (Asia) Limited is the sole sponsor of the global offering, BOCOM International Securities Limited is the sole global coordinator, while BOCOM International Securities Limited and Guotai Junan Securities (Hong Kong) Limited are the joint bookrunners.
About D&G Technology Holding Company Limited
D&G Technology is a leading medium-to-large scale asphalt mixing plant manufacturer and service provider in China. Based on the sales volume, the Group ranked second with a market share of approximately 13.8% in 2013. The Group’s core products include conventional hot-mix asphalt mixing plants and hot-mix asphalt mixing recycling plants. Asphalt mixtures produced by these plants are used in construction and maintenance of all grades of roads and highways. The Group also offers asphalt mixing plant customer services including sales of spare parts and components and provision of equipment modification services and leasing of asphalt mixing plants through operating leases. With headquarters in Hong Kong and a production base in Langfang, Hebei, D&G Technology is certified as a high-technology enterprise in Hebei and enjoys a preferential enterprise income tax rate of 15%. Its products are sold to most provinces, municipalities and autonomous regions in China as well as 18 overseas countries. It has sold more than 300 units of asphalt mixing plants to customers in China and overseas emerging markets and developed countries including Australia, Russia and India, regions including Southeast Asia and the Middle East, as well as countries in Africa. The Group is also one of the suppliers of asphalt mixing plants to a number of major infrastructure projects in China, including Beijing-Tibet Highway (京藏高速), Beijing-Hong Kong-Macau Highway (京港澳高速), Jiaozhou Bay Bridge (膠州灣大橋) and Hangzhou Bay Bridge (杭州灣大橋).