Carpenter Tan Holdings Limited, the Chinese maker, distributor, and retailer of small wooden products, has been listed on the Hong Kong Stock Exchange.
According to the share subscription results published by Carpenter Tan, its shares were 338.5 times oversubscribed during the public offering and the final share price was set at HKD2.58 per share. The company estimated that it will gain about HKD139.5 million by this placing and public offering.
Carpenter Tan previously planned to issue 62.5 million new shares, including 56.25 million placing new shares and 6.25 million public offering new shares. However, because its public offering shares were oversubscribed, it increased the amount of public offering shares to 31.25 million, accounting for 50% of the total.
Tan Chuanhua, the chairman and executive president of Carpenter Tan, said that the company will actively expand its businesses and seek continuous increases of both business and profit, so as to bring the best rewards to investors.