【New Stock IPO】Feisuo Innovation 3355 Subscription Closes at Noon - Reportedly Over 190,000 Subscribers, Oversubscription 1582 Times - Margin Trading HK$203 Billion Oversubscription 1193 Times, Entry Fee for One Lot HK$4,202

Feisu Innovation (New Listing Number: 03355) Subscription closes at noon on Wednesday (18th). Reports indicate that 197,000 people subscribed to the public offering, resulting in a 1,582-fold oversubscription, involving HKD 266 billion.

Feisu Innovation will launch its IPO on March 13. The online DTC network solutions provider plans to issue 40 million H-shares, with 10% available for public subscription in Hong Kong. The offering price ranges from HKD 35.2 to HKD 41.6, aiming to raise up to HKD 1.66 billion. As of the morning of March 18, Feisu Innovation had received HKD 203.096 billion in margin subscriptions, with a public subscription amount of HKD 170 million, representing an oversubscription of 1,193.68 times.

Feisu Innovation offers 100 shares per board lot, with an entry fee of HKD 4,202 per lot. The stock is expected to list and commence trading on March 23. China International Capital Corporation, CITIC Securities International, and China Merchants Securities International are joint sponsors.

▼Click the image to enlarge

Global Second Largest Online DTC Network Solutions Provider

According to Frost & Sullivan, based on 2024 revenue estimates, Feisu Innovation is the second-largest online DTC network solutions provider globally, with a market share of 6.9%. Feisu Innovation states that its network solutions enable global enterprises to achieve efficient digital transformation. Through its online sales platform FS.com, it offers scalable, cost-effective, and all-in-one network solutions.

Feisu Innovation Performance and Investment

Feisu Innovation has served over 500,000 customers across more than 200 countries and regions worldwide, covering about 60% of Fortune 500 companies, which are spread across industries such as information technology, financial services, healthcare, education, automotive, and electronics. In the first nine months of last year, Feisu Innovation reported revenue of HKD 2.17 billion (RMB), an 11.3% increase year-on-year, with a profit of HKD 420 million, up 20.6%.

Feisu Innovation has attracted a total of 11 cornerstone investors, including Haoran Capital, Great Holding under Yuan Yonggang, WT Asset Management, Caitong SEIII, Juming Investment, Qianzhan, Shenchuang Investment’s SCGC Capital, Aether, GF Fund HK under GF Securities, Kaifeng Investment, and Wider Huge, subscribing for a total of USD 90.22 million.

Use of Net Proceeds

• 40%: Enhance R&D through laboratory renovations, talent recruitment, and procurement of hardware and software to strengthen the technological platform’s digital intelligence
• 30%: Establish a regional headquarters in Singapore, strengthen multi-layer warehousing systems, upgrade automation in workflows, expand service networks, and recruit international management teams to improve delivery capabilities in key overseas markets
• 20%: Digitalization of network solutions and service business platforms
• 10%: Operating capital and general corporate purposes

Source: Feisu Innovation Announcement

Finance Hot Talk

Is the role of gold as a hedge failing? Are conflicts sparking concerns over interest rate hikes?