IPO Timeline Raw facts
Broker Deadline
Morning deadline
HKEX Deadline
Noon deadline
Broker Results (T-2)
Some brokers release in afternoon
Grey Market (T-1)
Afternoon
HKEX Allotment (T-1)
Evening
Registrar Allotment (T-1)
Evening
Listing Day (T)
First day of trading
Cross-Market Price Comparison
| Other Listed Market | Shanghai (SSE) |
|---|---|
| Other Market Stock Code | 688337 |
| H-Share Offer Price | HK$ 45.98 |
| Other Market Price | Loading... |
| Reference Exchange Rate | Loading... |
| H-Share Offer Price Premium/Discount vs Other Market | Loading... |
Company Overview
| Stock Name | Rigol |
|---|---|
| Stock Code | 00537 |
| Company Full Name | RIGOL Technologies Co., Ltd. |
| Industry | 電子測量儀器 |
| Principal Activities | We are a Chinese supplier of electronic measurement instruments, designing, developing, manufacturing and delivering comprehensive electronic measurement instruments and solutions to support scientific exploration and industry innovation. |
| Listing Date | 2026-07-09 |
| Listing Rules Era | New Rules (after Aug 2025) |
| Listing Rules Chapter | To be extracted |
| Weighted Voting Rights (WVR) | No |
| Registered Address (Mainland China) | 中國江蘇省蘇州市高新區科靈路8號 |
| Business Address (Hong Kong) | 香港銅鑼灣希慎道33號利園一期19樓1910室 |
| Place of Incorporation | China |
| Listing Method | Global Offering |
| Listing Board | Main Board |
| Website | www.rigol.com |
| Share Registrar | 卓佳证券登记有限公司 (Tricor Investor Services Limited) |
| Registrar Contact | 卓佳证券登记有限公司，香港金钟道89号力宝中心1座31楼3101-3103室 |
| A-Share/US Dual Listing | Yes (A股) |
Offering Information
| Offering Mechanism | Mechanism B |
|---|---|
| Offer Price | HK$ 45.98 / shares |
| Offer Price Range | Final offer price only, no range |
| Lot Size | 100 shares |
| Entry Threshold | HK$ 4,598 |
| Par Value | RMB 1.0 / shares |
| Offer Period | 2026-06-30 to 2026-07-06 |
| Global Offering Shares | 24,802,200 shares |
| HK Public Offer Shares (Initial) | 2,480,300 shares (10.0%) |
| Public Offer Lots (Initial) | 24,803lots (Pool A12,401lots，Pool B12,402lots) |
| International Placing Shares (Initial) | 22,321,900 shares (90.0%) |
| Offer Ratio | ~10.0% |
| Total Shares Post-IPO | 218,676,617 shares |
| Greenshoe (Over-allotment Option) | No |
| Stabilizing Manager (Greenshoe) | — |
| Cornerstone Share | 53.8% |
| Clawback Tiers | To be extracted |
| Reallocation Option | Yes |
| Total Global Offering Size | HK$ 1,140,405,156 |
Subscription Tiers
Minimum subscription unit: 1 lot. Subscription amount ≤ HK$5,000,000 is Pool A, > HK$5,000,000 is Pool B.
Pool A
| Lots Subscribed | Shares Subscribed | Subscription Amount (HKD) |
|---|---|---|
| 1 lots | 100 | HK$ 4,598 |
| 2 lots | 200 | HK$ 9,196 |
| 3 lots | 300 | HK$ 13,794 |
| 4 lots | 400 | HK$ 18,392 |
| 5 lots | 500 | HK$ 22,990 |
| 6 lots | 600 | HK$ 27,588 |
| 7 lots | 700 | HK$ 32,186 |
| 8 lots | 800 | HK$ 36,784 |
| 9 lots | 900 | HK$ 41,382 |
| 10 lots | 1,000 | HK$ 45,980 |
| 15 lots | 1,500 | HK$ 68,970 |
| 20 lots | 2,000 | HK$ 91,960 |
| 25 lots | 2,500 | HK$ 114,950 |
| 30 lots | 3,000 | HK$ 137,940 |
| 35 lots | 3,500 | HK$ 160,930 |
| 40 lots | 4,000 | HK$ 183,920 |
| 45 lots | 4,500 | HK$ 206,910 |
| 50 lots | 5,000 | HK$ 229,900 |
| 60 lots | 6,000 | HK$ 275,880 |
| 70 lots | 7,000 | HK$ 321,860 |
| 80 lots | 8,000 | HK$ 367,840 |
| 90 lots | 9,000 | HK$ 413,820 |
| 100 lots | 10,000 | HK$ 459,800 |
| 200 lots | 20,000 | HK$ 919,600 |
| 300 lots | 30,000 | HK$ 1,379,400 |
| 400 lots | 40,000 | HK$ 1,839,200 |
| 500 lots | 50,000 | HK$ 2,299,000 |
| 600 lots | 60,000 | HK$ 2,758,800 |
| 700 lots | 70,000 | HK$ 3,218,600 |
| 800 lots | 80,000 | HK$ 3,678,400 |
| 900 lots | 90,000 | HK$ 4,138,200 |
| 1,000 lots | 100,000 | HK$ 4,598,000 |
Pool B
| Lots Subscribed | Shares Subscribed | Subscription Amount (HKD) |
|---|---|---|
| 2,000 lots | 200,000 | HK$ 9,196,000 |
| 3,000 lots | 300,000 | HK$ 13,794,000 |
| 4,000 lots | 400,000 | HK$ 18,392,000 |
| 5,000 lots | 500,000 | HK$ 22,990,000 |
| 6,000 lots | 600,000 | HK$ 27,588,000 |
| 7,000 lots | 700,000 | HK$ 32,186,000 |
| 8,000 lots | 800,000 | HK$ 36,784,000 |
| 9,000 lots | 900,000 | HK$ 41,382,000 |
| 10,000 lots | 1,000,000 | HK$ 45,980,000 |
| 11,000 lots | 1,100,000 | HK$ 50,578,000 |
| 12,401 lots | 1,240,100 | HK$ 57,019,798 |
Stock Connect Inclusion Analysis
| HK Market Cap | HK$ 461.7M |
|---|---|
| Analysis Result | Already included in Stock Connect (both) |
Valuation & Financials
| Market Cap (at Offer Price) | HK$ 10,054,750,849 |
|---|---|
| Pre-IPO Valuation (Last Round) | Not disclosed |
| P/E Ratio | Not disclosed |
| Profit/Loss Status | Net profit RMB 86.1 million |
| Period-End Cash Balance | RMB 330.57 million |
| Listing Expenses | ~HK$ 86,600,000 |
| Listing Expenses / Funds Raised | ~8.7% |
| Total Pre-IPO Investment | To be extracted |
| First Day Close | Loading... |
|---|---|
| Use of Proceeds | Approximately 30% will be used to enhance research and development capabilities, approximately 20% to expand production capacity and automation, approximately 20% for strategic investments and acquisitions, approximately 20% to strengthen global sales, marketing and service networks, and approximately 10% to supplement working capital. |
Underwriting Syndicate
Sole Sponsor (1)
CITIC Securities (Hong Kong) Limited CE AAK249(sole)
Sponsor cum Overall Coordinator (1)
CLSA LIMITED CE AAB893
Overall Coordinators (1)
CLSA LIMITED CE AAB893
Joint Global Coordinators (1)
CLSA LIMITED CE AAB893
Joint Bookrunners (3)
Joint Lead Managers (3)
Capital Market Intermediaries (3)
Service Providers
| Role | Institution |
|---|---|
| Legal Advisor to Company |
瑞生国际律师事务所有限法律责任合伙 竞天公诚律师事务所 Zul Rafique & partners Loeb & Loeb LLP 霍金路伟律师行 |
| Legal Advisor to Sponsors/Underwriters |
亚司特博钦律师事务所 君合律师事务所上海分所 |
| Auditor and Reporting Accountant | 德勤‧关黄陈方会计师行 |
| Industry Advisor | 弗若斯特沙利文（北京）咨询有限公司上海分公司 |
| Receiving Banks | 招商永隆银行有限公司 |
Cornerstone Investors
| # | Investor Name | Investment Amount | Shares Subscribed | % of Offer Shares | % of Total Shares | Lock-up Period | Est. Unlock Date |
|---|---|---|---|---|---|---|---|
| 1 | HHLR Advisors, Ltd | 25,000,000 USD | 4,261,300 | 17.18% | 1.95% | 6 months | 2027-01-09 |
| 2 | CPE Hemlock | 12,500,000 USD | 2,130,600 | 8.59% | 0.97% | 6 months | 2027-01-09 |
| 3 | 蘇州投資者蘇州高新區 | 10,000,000 USD | 1,704,500 | 6.87% | 0.78% | 6 months | 2027-01-09 |
| 4 | 華圓 | 7,000,000 USD | 1,193,100 | 4.81% | 0.55% | 6 months | 2027-01-09 |
| 5 | 小計 | 17,000,000 USD | 2,897,600 | 11.68% | 1.33% | 6 months | 2027-01-09 |
| 6 | 陽光電源香港 | 4,000,000 USD | 681,800 | 2.75% | 0.31% | 6 months | 2027-01-09 |
| 7 | 中信保誠基金 | 1,780,000 USD | 303,400 | 1.22% | 0.14% | 6 months | 2027-01-09 |
| 8 | 彭年集團 | 1,000,000 USD | 170,400 | 0.69% | 0.08% | 6 months | 2027-01-09 |
Directors & Management
| Position | Chinese name | English Name |
|---|---|---|
| Chairman / Executive Director | 王悅 | Wang Yue |
| Company Secretary / Executive Director | 程建川 | Cheng Jianchuan |
| Independent Non-Executive Director | 秦策 | Qin Ce |
| Executive Director | 王寧 | Wang Ning |
| Independent Non-Executive Director | 劉連勝 | Liu Liansheng |
| Executive Director | 孫寧霄 | Sun Ningxiao |
| Independent Non-Executive Director | 許煦 | Xu Xu |
Major Shareholders
| Major Shareholders & Holdings | Dr. Wang Yue, Mr. Wang Tiejun and Mr. Li Weisen are persons acting in concert and, together, hold approximately 47.03% of the issued share capital of the Company immediately after the completion of the Global Offering. |
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