Shanxi Installation Group Listing on HKEX with Patrons as Joint Lead Managers

On 10 November, Shanxi Installation Group Co., Ltd. (02520. HK) ("Shanxi Installation") formally launched its IPO, with Patrons as Joint Lead Managers of the IPO application. It is learnt that the Group expects to offer 333 million shares globally, with the international offering accounting for 90% and the Hong Kong offering accounting for 10%. The public offering of Shanxi Installation was held from 10 November to 15 November at noon, at HK$2.10 to HK$2.36 per share, with an admission fee of HK$4,767.6 for a board lot of 2,000 shares, raising a maximum of HK$787 million, and is expected to be listed on the Main Board of the Hong Kong Stock Exchange on 22 November.

Shanxi Province Installation Group is an industrial engineering contractor engaged in professional industrial engineering, professional ancillary engineering, other engineering and non-engineering businesses. The Group is the largest professional industrial engineering contractor in Shanxi Province, the 3rd largest new energy engineering contractor in China and the 5th largest professional industrial engineering contractor in China in terms of revenue in 2021. The Group has implemented a series of strategic adjustments and optimisation measures in recent years and achieved significant development results. It is expected that more than half of the proceeds from the IPO will be invested in new energy projects, new energy upstream and downstream manufacturing projects, green environmental protection and other emerging areas.