Based on its proposed listing plan, Excalibur intends to offer a total of 200 million shares, comprising an offer of 20 million shares under the public offer and 180 million shares under the placing.
Excalibur looks at an indicative offer price ranging from HK$0.375 and HK$0.425 per share. Net proceeds from the share offer are estimated to be approximately HK$49.6 million (US$6.34 million).
The public offering commenced on 29 December 2017 and ended at noon on 4 January 2018. The final offer price and results of allocation will be announced on 11 January.
Trading of Excalibur’s shares will commence on the GEM Board of SEHK on 12 January 2018 under the stock code 8350. Shares will be traded in board lots of 8,000 shares each.
Alliance Capital Partners Limited is the Sole Sponsor, and together with Head & Shoulders Securities Limited are the Joint Bookrunners and Joint Lead Managers, China Finance KAB Limited is the Co-lead Manager, and Fortune (HK) Securities Limited is the Co-Manager of the listing.
The Directors of the Group believe that Excalibur has established itself as a reputable and trusted futures brokerage firm, enabling them to attract new clients from the market and solicit client referrals from existing clients.
Excalibur currently provides clients with access to locally and globally traded futures and options products.
In the firs half of 2017, approximately 74.6% of Excalibur’s total revenue was generated from futures products (such as oil, gold and forex futures) traded on Chicago Mercantile Exchange (CME), while approximately 23.3% was from the Hong Kong Futures Exchange (HKFE). Remaining 2.1% was from other exchange market. – BusinessNewsAsia.com