Companies

NVC Lighting opens at IPO price on HK debut

(Xinhua)
Updated: 2010-05-20 11:49

HONG KONG - Shares of NVC Lighting opened at HK$2.1 (26.9 US cents) on Thursday on its debut at the Hong Kong stock exchange, the same as its price of the initial public offering (IPO).

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NVC Lighting, one of the Chinese mainland's leading suppliers of lighting products, said Wednesday that its IPO price was determined at HK$2.1 per share and the net proceed of its IPO was about HK$1.37 billion.

In a statement filed to the Hong Kong stock exchange, NVC Lighting said its shares in the public tranche were almost 39 times oversubscribed and the final number of new shares for global offering was 218.26 million. While shares for the international placing amounted to 509.28 million.

NVC Lighting, founded in 1998, is based in South China's Guangdong province.