The Economic Information Daily News (September 9) - Farad Power Storage (09621) debuted and closed at its daily low of HK$15.55, still 59% higher than its IPO price of HK$9.78, generating a paper profit of HK$2,885 per lot of 500 shares; trading volume amounted to 11.5 million shares, involving HK$238 million. The closing price retreated sharply from its opening level, down 26%, and was 30% lower than the intraday high of HK$22.4.

Farad Power Storage opened at HK$21 this morning, 1.15 times higher than the IPO price of HK$9.78, when the paper profit per lot was HK$5,610.

Farad Power Storage announced that the final offering price was set at HK$9.78 per share, pricing at the lower-middle range of the proposed HK$8.54 to HK$11.10. The Hong Kong public offering received approximately 60,700 applications, representing an oversubscription of about 1,387.75 times. Among the 20,100 applicants who applied for one lot of 500 shares, 1,008 were allocated shares, with an allocation ratio of 5%. Applicants needed to subscribe for 2 million shares or 4,000 lots to be guaranteed one lot.

The "top-tier application" involved 2.877 million shares, with 507 applicants each receiving 500 shares. Additionally, 38 out of the 507 applicants received an extra 500 shares, resulting in an allocation ratio of 0.02%. The Hong Kong public offering maintained its 10% share of the total offering, while the international offering was oversubscribed by 0.3 times. (hc)