Yuk Wing Group Holdings Limited Trading Debut

11-Jan-2017 Intellasia | BusinessWire | 5:05 PM Print This Post

Share price dropped around 8%; Highest price of the day was
HK$1.17

HONG KONG–(BUSINESS WIRE)–Yuk Wing Group Holdings Limited (“Yuk Wing”, together with its
subsidiaries, the “Group”; stock code: 1536), a leading manufacturer and
supplier of DTH rockdrilling tools in Hong Kong, announces its
successful listing on the Main Board of The Stock Exchange of Hong Kong
Limited (“SEHK”) today.

The Company’s Share price closed at HK$1.05 per Share, which was
approximately 8.7% lower than the Offer Price of HK$1.15 per Share. The
highest Share price of the day was HK$1.17. On its first trading day,
approximately 99.9 million Shares changed hands with total turnover
amounted to approximately HK$111 million.

Octal Capital Limited is the Sole Sponsor. Opus Capital Limited, Supreme
China Securities Limited and Octal Capital Limited are the Joint
Bookrunners and Joint Lead Managers of the Public Offer.

Commenting on the trading debut, Mr. Kenneth Leung Choi Chan,
Chairman, Chief Executive Officer and Executive Director, of Yuk Wing,

said, “The successful listing on the Hong Kong Stock Exchange marks an
important milestone of Yuk Wing. It proves the Group’s solid
fundamentals. The response also shows investors’ confidence in our
business development and future prospects. Our business objectives are
to deepen our penetration of the Hong Kong DTH rockdrilling tool
industry, to extend our international platform through partnering with
local distributors to develop new markets and increase sales, to invest
in a new manufacturing facility in order to introduce new self-designed
and self-manufactured products and enhance our manufacturing
capabilities, as well as to expand our research and development team.”

About Yuk Wing Group Holdings Limited

Yuk Wing is the leading manufacturer and supplier of DTH rockdrilling
tools in Hong Kong. It provides technical rockdrilling solutions for use
in building foundation and piling on construction sites, mining and
quarrying, water well drilling, utility linings, micro-tunneling and
overburden drilling in a variety of geological formations and at
considerable depths. A majority of the equipment and machinery which the
Group supplies to its customers are its self-designed DTH rockdrilling
tools which it manufactures, and the rest are sourced from third parties
for customers depending on their rockdrilling needs.

According to the Frost & Sullivan Report, the Group is the leading
manufacturer and supplier of DTH rockdrilling tools in Hong Kong, with a
market share in Hong Kong by revenue of 59.2% in 2015. During the Track
Record Period, the Group had over 130 customers, including certain
foundation companies listed on the Hong Kong Stock Exchange.

Contacts

Stimulus Investor Relations Ltd.
Ms. Hill Ho, +852 3159 2944
hill.ho@stimulus-ir.com
Ms.
Jessica Choi, +852 3159 2916
jessica.choi@stimulus-ir.com

 


Category: BusinessWire, PRAsia

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