IPO Timeline
Broker Results (T-2)
2024-03-26
Some brokers release in afternoon
Grey Market (T-1)
2024-03-27
Afternoon
HKEX Allotment (T-1)
2024-03-27
Evening
Registrar Allotment (T-1)
2024-03-27
Evening
Listing Day (T)
2024-03-28
First day of trading
Company Overview
| Stock Name | Lianlian |
|---|---|
| Stock Code | 02598 |
| Company Full Name | To be extracted |
| Industry | 軟件服務 |
| Principal Activities | 公司是中國的數字支付解決方案提供商，具備服務世界各地客戶的全球支付能力。 |
| Listing Date | 2024-03-28 |
| Listing Rules Era | Old Rules |
| Listing Rules Chapter | To be extracted |
| Weighted Voting Rights (WVR) | No |
| Registered Address (Mainland China) | 中國浙江省杭州市濱江區越達巷79號1號樓12樓B3 |
| Business Address (Hong Kong) | To be extracted |
| Place of Incorporation | To be extracted |
| Listing Method | To be extracted |
| Listing Board | Main Board |
| Website | http://www.lianlian.com/ |
| Share Registrar | 香港中央證券登記有限公司 (Computershare Hong Kong Investor Services Limited) |
| Registrar Contact | (852)2862 8628 |
| A-Share/US Dual Listing | No data |
Offering Information
| Offering Mechanism | To be extracted |
|---|---|
| Offer Price | HK$ 10.22 / shares |
| Offer Price Range | To be extracted |
| Lot Size | To be extracted |
| Entry Threshold | To be extracted |
| Par Value | To be extracted |
| Offer Period | To be extracted |
| Global Offering Shares | To be extracted |
| HK Public Offer Shares (Initial) | To be extracted |
| Public Offer Lots (Initial) | To be extracted |
| International Placing Shares (Initial) | To be extracted |
| Offer Ratio | To be extracted |
| Total Shares Post-IPO | To be extracted |
| Greenshoe (Over-allotment Option) | To be confirmed |
| Stabilizing Manager (Greenshoe) | — |
| Cornerstone Share | 55.5% |
| Clawback Tiers | To be extracted |
| Reallocation Option | To be confirmed |
| Total Global Offering Size | HK$ 197,143,800 |
Subscription Tiers
Minimum subscription unit: 1 lot. Subscription amount ≤ HK$5,000,000 is Pool A, > HK$5,000,000 is Pool B.
Pool A
| Lots Subscribed | Shares Subscribed | Subscription Amount (HKD) |
|---|---|---|
| 1 lots | 500 | HK$ 5,110 |
| 2 lots | 1,000 | HK$ 10,220 |
| 3 lots | 1,500 | HK$ 15,330 |
| 4 lots | 2,000 | HK$ 20,440 |
| 5 lots | 2,500 | HK$ 25,550 |
| 6 lots | 3,000 | HK$ 30,660 |
| 7 lots | 3,500 | HK$ 35,770 |
| 8 lots | 4,000 | HK$ 40,880 |
| 9 lots | 4,500 | HK$ 45,990 |
| 10 lots | 5,000 | HK$ 51,100 |
| 12 lots | 6,000 | HK$ 61,320 |
| 14 lots | 7,000 | HK$ 71,540 |
| 16 lots | 8,000 | HK$ 81,760 |
| 18 lots | 9,000 | HK$ 91,980 |
| 20 lots | 10,000 | HK$ 102,200 |
| 30 lots | 15,000 | HK$ 153,300 |
| 40 lots | 20,000 | HK$ 204,400 |
| 50 lots | 25,000 | HK$ 255,500 |
| 60 lots | 30,000 | HK$ 306,600 |
| 70 lots | 35,000 | HK$ 357,700 |
| 80 lots | 40,000 | HK$ 408,800 |
| 90 lots | 45,000 | HK$ 459,900 |
| 100 lots | 50,000 | HK$ 511,000 |
| 200 lots | 100,000 | HK$ 1,022,000 |
| 300 lots | 150,000 | HK$ 1,533,000 |
| 400 lots | 200,000 | HK$ 2,044,000 |
| 500 lots | 250,000 | HK$ 2,555,000 |
| 600 lots | 300,000 | HK$ 3,066,000 |
| 700 lots | 350,000 | HK$ 3,577,000 |
| 800 lots | 400,000 | HK$ 4,088,000 |
| 900 lots | 450,000 | HK$ 4,599,000 |
Pool B
| Lots Subscribed | Shares Subscribed | Subscription Amount (HKD) |
|---|---|---|
| 1,000 lots | 500,000 | HK$ 5,110,000 |
| 1,200 lots | 600,000 | HK$ 6,132,000 |
| 1,400 lots | 700,000 | HK$ 7,154,000 |
| 2,000 lots | 1,000,000 | HK$ 10,220,000 |
| 3,000 lots | 1,500,000 | HK$ 15,330,000 |
| 5,592 lots | 2,796,000 | HK$ 28,575,120 |
Stock Connect Inclusion
| HK Market Cap | --- |
|---|
| 26Q2 Regular Review | |
| Inclusion Pathway | None |
|---|---|
| Est. Threshold | --- |
| Analysis Result | 无法确定入通路径 |
Valuation & Financials
| Market Cap (at Offer Price) | To be extracted |
|---|---|
| Pre-IPO Valuation (Last Round) | Not disclosed |
| P/E Ratio | Not disclosed |
| Profit/Loss Status | To be extracted |
| Period-End Cash Balance | To be extracted |
| Listing Expenses | To be extracted |
| Listing Expenses / Funds Raised | To be extracted |
| Total Pre-IPO Investment | To be extracted |
First Day Performance
| First Day Close | HK$ 9.44 |
|---|---|
| First Day Open | HK$ 9.8 |
| First Day Change | -7.63% |
| First Day Volume | 15429700.0 |
| First Day Turnover | 149692000.0 |
Use of Proceeds
| Use of Proceeds | 1、約60.0%或約291.0百萬港元將在未來五年內用于提高本公司的技術能力； 2、約30.0%或約145.5百萬港元將于未來五年內用于擴大本公司的全球業務運營； 3、約5.0%或約24.3百萬港元將于未來五年內用于未來的戰略投資及收購，以豐富本公司的服務及產品，提高本公司的技術能力，并加強本公司的國際業務； 4、約5.0%或約24.3百萬港元預計將用于一般公司用途及營運資金需求。 |
|---|
Underwriting Syndicate
Joint Sponsors (2)
Overall Coordinators (4)
Joint Bookrunners (13)
China International Capital Corporation Hong Kong Securities Limited CE AEN894
J.P. MORGAN SECURITIES (ASIA PACIFIC) LIMITED CE AAJ321
BNP PARIBAS SECURITIES (ASIA) LIMITED CE AAF669
德意志银行香港分行
ABCI Securities Company Limited CE ACX411
CAITONG INTERNATIONAL SECURITIES CO., LIMITED CE AZF063
China Galaxy International Securities (Hong Kong) Co., Limited CE AXM459
Futu Securities International (Hong Kong) Limited CE AZT137
广发证券（香港）经纪有限公司 CE AOB364
GUOTAI JUNAN SECURITIES (HONG KONG) LIMITED CE ABY236
ICBC INTERNATIONAL SECURITIES LIMITED CE ARO299
Tiger Brokers (HK) Global Limited CE BMU940
ZHONGTAI INTERNATIONAL SECURITIES LIMITED CE BAA855
Joint Lead Managers (13)
China International Capital Corporation Hong Kong Securities Limited CE AEN894
J.P. MORGAN SECURITIES (ASIA PACIFIC) LIMITED CE AAJ321
BNP PARIBAS SECURITIES (ASIA) LIMITED CE AAF669
德意志银行香港分行
ABCI Securities Company Limited CE ACX411
CAITONG INTERNATIONAL SECURITIES CO., LIMITED CE AZF063
China Galaxy International Securities (Hong Kong) Co., Limited CE AXM459
Futu Securities International (Hong Kong) Limited CE AZT137
广发证券（香港）经纪有限公司 CE AOB364
GUOTAI JUNAN SECURITIES (HONG KONG) LIMITED CE ABY236
ICBC INTERNATIONAL SECURITIES LIMITED CE ARO299
Tiger Brokers (HK) Global Limited CE BMU940
ZHONGTAI INTERNATIONAL SECURITIES LIMITED CE BAA855
Cornerstone Investors
| # | Investor Name | Investment Amount | Shares Subscribed | % of Offer Shares | % of Total Shares | Lock-up Period | Est. Unlock Date |
|---|---|---|---|---|---|---|---|
| 1 | 杭州城投产业发展投资合伙企业(有限合伙) | 182,391,230 HKD | — | 27.76% | — | 6 months | 2024-09-28 |
| 2 | 杭州高新创业投资有限公司 | 182,391,230 HKD | — | 27.76% | — | 6 months | 2024-09-28 |
Directors & Management
| Chairman | 章征宇 |
|---|---|
| Company Secretary | 梁皚欣,許葉丹 |
No director data available.
Major Shareholders
| Major Shareholders & Holdings | 杭州創連致新投資合伙企業(16.08%);章征宇(10.97%);呂鐘霖(8.62%);天津光大創新科技投資中心(7.47%) |
|---|
AI
AI Analysis
Market Sentiment
连连数字以10.22港元定价，公开发售超额认购16.94倍，但中签率高达100%，显示实际散户需求有限或分配规则异常宽松，与典型IPO中签率分布不同。这可能是由于国际配售部分认购不足导致大量股份回拨，或公司刻意实行普惠分配策略。（This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice.）
Tier Analysis
甲尾申请450,000股（900手）与乙头申请500,000股（1,000手）均预期仅获配1手，乙头多投入约50万港元未获额外股份，资金效率极低。该异常平坦的分配曲线表明，在边际处大小户几乎无差别待遇，可能打击乙组打新热情。（This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice.）
Demographics
招股结果未披露持有人总数及地域分布，内地与香港投资者占比均显示为0%，或为数据缺失。通常内地参与者比例是重要情绪指标，此次缺失可能限制了对市场热度的深层判断。（This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice.）
