On October 30, RelyEZ Energy Storage Technology Co., Ltd. officially launched its global offering, with plans to list on the Main Board of The Stock Exchange of Hong Kong on November 9.
According to the prospectus, the global offering comprises a total of 57,540,500 H shares, consisting of 5,754,500 shares under the Hong Kong public offering and 51,786,000 shares under the international offering. The offer price ranges between HK$8.54 and HK$11.10 per share. Calculated at the maximum offer price, the gross proceeds are expected to reach approximately HK$639 million (before deducting relevant issuance expenses).
The offering opened at 9:00 a.m. on October 30 and will close at 12:00 noon on November 4. The final offer price is expected to be determined on November 5, followed by the announcement of allotment results on November 6, with dealings in the shares scheduled to officially commence on November 9.
According to the prospectus, the proceeds raised will primarily be allocated to the following areas:
Approximately 45% will be used for the research and development of hardware and software products, including the procurement of related products and the recruitment of R&D and operational personnel;
Approximately 25% will be used to expand overseas business, including establishing overseas localized teams, broadening business partnerships, and exploring overseas manufacturing opportunities;
Approximately 20% will be dedicated to the construction of a new factory in Wuzhen, Zhejiang Province, equipment procurement, and laboratory-related expenses;
The remaining approximately 10% will be used for working capital and other general corporate purposes.
Source：EnergyTrend