Yuexin Semiconductor IPO sees 468,976 online shares forfeited, GF Securities underwrites
In short
Yuexin Semiconductor announced the results of its ChiNext initial public offering, pricing shares at 12.01 yuan each and issuing 512.646 million shares before the over-allotment option. Online investors forfeited 468,976 shares, which GF Securities will underwrite for 5.6324 million yuan. Issuance expenses totaled 195 million yuan before the over-allotment option was exercised.
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Yuexin Semiconductor (粤芯半导体), ticker 301660.SZ, announced the results of its initial public offering for a ChiNext listing, according to reports by CLS and Jiemian on Oct 7. The company said the issue price was 12.01 yuan per share and the issue volume was 512.646 million shares (51,264.6万股). After the over-allotment option was fully exercised, total shares issued expanded to 589.542 million (58,954.2万股), the reports said. [ 1 , 2 ]
The final strategic placement was 256.323 million shares (25,632.3万股), the final online offering was 179.424 million shares (17,942.4万股) and the final offline offering was 153.795 million shares (15,379.5万股), according to the announcement. Online investors forfeited 468,976 shares, which GF Securities will underwrite for 5.6324 million yuan (563.24万元), the company said. Issuance expenses totaled 195 million yuan (1.95亿元) before the over-allotment option was exercised. [ 1 , 2 ]
Yicai reported the forfeiture in a headline that rounded the figure to 469,000 shares, without additional details. The documents did not give a reason for the online investors’ decision, nor did they state the listing date or the final proceeds of the offering. [ 3 ]
Why it matters
The filing details the final allocation and underwriting of a Chinese semiconductor company’s ChiNext listing, a market event relevant mainly to investors and industry watchers. The forfeiture and GF Securities underwriting show how the offering was completed, though the documents do not explain the investor decision or the listing timetable.
Key facts
- Yuexin Semiconductor, ticker 301660.SZ, announced the results of its initial public offering on ChiNext. [ 1 , 2 ]
- The issue price was 12.01 yuan per share, with an issue volume of 512.646 million shares. [ 1 , 2 ]
- After the over-allotment option was fully exercised, total shares issued expanded to 589.542 million. [ 1 , 2 ]
- Strategic placement was 256.323 million shares, the final online offering was 179.424 million shares and the final offline offering was 153.795 million shares. [ 1 , 2 ]
- Online investors forfeited 468,976 shares, which GF Securities will underwrite for 5.6324 million yuan. [ 1 , 2 ]
- Issuance expenses totaled 195 million yuan before the over-allotment option was exercised. [ 1 , 2 ]
- Yicai reported the forfeiture figure as 469,000 shares in its headline. [ 3 ]
Confirmed by several sources
- Online investors abandoned 468,976 shares, and GF Securities will underwrite them for 5.6324 million yuan. [ 1 , 2 ]
- The issue price was 12.01 yuan per share. [ 1 , 2 ]
- The offering was an initial public offering for a ChiNext listing. [ 1 , 2 ]
- The final strategic placement was 25,632.3万股, the online offering 17,942.4万股 and the offline offering 15,379.5万股. [ 1 , 2 ]
Still unclear
- Why the online investors forfeited 468,976 shares. The documents do not give a reason for the abandoned subscription.
- The listing date and final proceeds of the offering. The documents do not state when trading will begin or the final amount raised.
- Whether the forfeited shares affect the final allocation. The documents do not address any adjustment to the allocation after the underwriting.