New stock news | Mei Lian Stock (02671) closed its public offering with a record over-subscription of HK$2.75 billion, oversubscribed by 121 times.

Prebuilt steel structure construction service company MeiLian Holdings Limited (02671) will be conducting its IPO from December 18th to 23rd at noon. MeiLian Holdings Limited has received a total of 2.75 billion Hong Kong dollars from underwriters, with a public offering amount of 22.53 million Hong Kong dollars, oversubscribed by 121 times. MeiLian Holdings Limited plans to issue 24.6 million H shares, with one-tenth being offered publicly in Hong Kong. The offering price is expected to be between 7.1 Hong Kong dollars and 9.16 Hong Kong dollars, raising a maximum of nearly 2.3 billion Hong Kong dollars. Each lot consists of 300 shares, with an entrance fee of 2,775.7 Hong Kong dollars. MeiLian Holdings Limited is expected to be listed for trading on December 30th. Shenwan Hongyuan Group in Hong Kong is the exclusive sponsor. MeiLian Holdings Limited has attracted colored clouds, Tiny Jade, Wu Xinghua, and Logic Selective as cornerstone investors, subscribing for a total of 51.5 million Hong Kong dollars. According to the prospectus, MeiLian Holdings Limited is a comprehensive subcontracted service provider in the industrial field of prefabricated steel structure construction market. The company provides integrated services for construction projects in various industries, covering project design and optimization, procurement, manufacturing, and installation. The company mainly engages in the construction of prefabricated steel structures in China (and to a lesser extent overseas). With its technology and expertise, the company has established a good reputation in the industrial field of prefabricated steel structure construction market in China. According to a Frost & Sullivan report, based on revenue projections for 2024, the company ranks third in the industrial sector of the prefabricated steel structure construction market in China with a market share of 3.5%; while the market shares of the two major players are 35.8% and 6.5% respectively. As of December 9, 2025, the company has 119 ongoing projects.