HIPINE (02583.HK), a gold watch case and bezel designer, has launched its IPO in Hong Kong. It proposes to offer 10.6 million H-shares globally, with the Hong Kong public offering accounting for 10% (about 1.06 million shares) and the international offering accounting for 90% (about 9.54 million shares).

The offer price ranges from HKD27 to HKD29.6 per share, which is expected to raise up to around HKD314 million. The entry fee for a board lot of 100 shares will be around HKD2,989.85.

The IPO will commence today (19th) and close at noon next Wednesday (24th), with the listing of shares expected on September 29. Ping An Securities (Hong Kong) acts as the sole sponsor.

Based on the median offer price of HKD28.3, HIPINE's IPO is estimated to raise net proceeds of about HKD255 million.
(HK stocks quote is delayed for at least 15 mins.)