<IPO>METALIGHT (02605.HK): 'Chelaile' APP Covers 466 Cities & Towns in CN over Decade, w/ Solid Rev. Growth
METALIGHT (02605.HK), the operator of the real-time bus arrival information app &#8220;Chelai...
METALIGHT (02605.HK), the operator of the real-time bus arrival information app “Chelaile”, announced its Hong Kong IPO details yesterday (2nd).
The company plans to offer 24.856 million shares globally, with 10%, or 2.4856 million shares, allocated for the Hong Kong public offering and the remaining 90%, or 22.3704 million shares, for international placement.
The offer price is set at HK$9.75 per share, with net proceeds expected to be approximately HK$160 million. The entry fee for one lot of 400 shares is about HK$3,939.34.
MetaLight began its subscription period yesterday, running until noon on Thursday (5th), and is anticipated to list on the Main Board of the Hong Kong Stock Exchange next Tuesday (10th), with CICC as the sole sponsor.
According to MetaLight’s announcement, the company achieved steady revenue growth during the track record period. Revenue grew from RMB135 million in 2022 to RMB175 million in 2023, and further to RMB206 million in 2024. The company’s gross margin also improved over this period.
Dr. Sun Xi, Executive Director, Chairman, and CEO of MetaLight, stated that the “Chelaile” app has covered 466 cities and towns across China over the past decade, serving nearly 300 million users.
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