Shares of Metropolis Capital Holdings Limited ("Metropolis Capital" or the "Company", stock code: 8621, together with its subsidiaries, the "Group"), a well-established vehicle finance leasing company in the PRC, become listed on the GEM of The Stock Exchange of Hong Kong Limited on 12 December 2018. The Company's shares were traded at between HK$1.16 and HK$0.45 per share on the first day of trading and closed at HK$0.55 per share, representing a premium of 41 per cent on offer price. Approximately 204 million Company's shares, which are traded in board lots of 8,000 shares each, changed hands, representing a total turnover of approximately HK$157 million on the first trading day.

 

The Company offered a total of 200 million shares, comprising of placing shares and public offer shares, at an offer price determined at HK$0.39 per share. The public offer shares have been approximately 37 times subscribed, while the placing shares being moderately over-subscribed. Due to the satisfactory response of the public offer, a total of 40 million placing shares initially available for subscription under the placing had been reallocated to the public offer. As a result of such reallocation, the public offer shares as a percentage of the total available shares under the share offer rises from 10 per cent (prior to the reallocation) to 30 per cent (i.e. 60 million shares), while the proportion of placing shares is reduced to 70 per cent (i.e. 140 million shares) from the initial 90 per cent (prior to the reallocation).

 

The estimated net proceeds from the share offer of the Company are approximately RMB34.4 million, of which approximately 95 per cent will be used to expand its capital base for its finance leasing operations and approximately 5 per cent to provide funding for its working capital and other general corporate purposes.

 

Octal Capital Limited is the sole sponsor, while Emperor Securities Limited is the lead manager and sole bookrunner, and Success Securities Limited is the co-lead manager for the IPO of Metropolis Capital.

 

"The listing of the Company represents a new milestone in its development. Not only will the proceeds from the share offer enable the Group to accelerate its business expansion, but the listing status will enhance the Group's corporate profile and brand image, thereby increasing its ability to attract potential customers," said Mr David Chau, the chairman of Metropolis Capital.

 

About Metropolis Capital

Metropolis Capital is a well-established finance leasing company in the PRC focusing on vehicle finance leasing. It primarily provides customised vehicle finance leasing to its customers. Headquartered in Shanghai, the Group has five branch offices in the PRC namely Shanghai municipality, Jiangsu province, Guizhou province, Shandong province and Jiangxi province. The Group differentiates itself by being able to provide flexible and accessible finance leasing solutions to its customers which suit their needs. During the track record period, the Group focused its efforts on providing vehicle finance leasing to SMEs and individuals. The Group's customers cover more than five provinces, municipalities and autonomous region.

 

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Issued by: Metropolis Capital Holdings Limited

Through:  CorporateLink Limited

 

Media Enquiries: CorporateLink Limited

Christine Chan Tel: 2801 6090 Email: christine@corporatelink.com.hk

Kelly Laing Tel: 2801 6045 Email: kellyl@corporatelink.com.hk

 

 

 

 

David Chau, the chairman of Metropolis Capital Holdings Limited

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