New stock news | Wuxi Lead Intelligent Equipment (00470) ends its IPO subscription with a total oversubscription of HKD 4.35 billion, 9.1 times the initial offering size.

The world's largest lithium battery intelligent equipment supplier Wuxi Lead Intelligent Equipment (00470) started its IPO from February 3rd to 6th. Wuxi Lead Intelligent Equipment plans to issue 93.616 million H shares, with 10% to be publicly offered in Hong Kong at a maximum offering price of HK$45.8, raising up to HK$4.29 billion. As of the afternoon of February 5th, Wuxi Lead Intelligent Equipment has received subscriptions of HK$4.35 billion, which is 9.1 times oversubscribed based on the public offering amount of HK$429 million. Wuxi Lead Intelligent Equipment's minimum lot size is 100 shares with an entry fee of HK$4,626.2. Wuxi Lead Intelligent Equipment is expected to be listed for trading on February 11th, with CITIC SEC and J.P. Morgan as joint sponsors. Wuxi Lead Intelligent Equipment has introduced 10 cornerstone investors including Oaktree, Pinpoint, AMF, MY Asian, MSIP, Eurwanda Fund, QRT, Wuxi Golden Spear, Guotai Haitong (regarding off-exchange swaps by Wuxi Golden Spear), Millennium, and Rome Garden, with a total subscription amount of $275 million. According to the prospectus, the manufacturing equipment and solutions delivered by Wuxi Lead Intelligent Equipment are widely used in areas such as lithium batteries, photovoltaic batteries, computer, communication, and consumer electronics (3C) manufacturing, intelligent logistics, hydrogen production and fuel cell production, automotive manufacturing, and laser precision processing. Wuxi Lead Intelligent Equipment's intelligent equipment is equipped with industrial control software, which can streamline various production processes, help customers transition to high automation unmanned factories, further reduce labor costs, improve production efficiency, and promote their green initiatives. According to Frost & Sullivan data, the global smart equipment market for new energy accounts for about 15% of the global smart equipment market by 2024. In the same year, based on revenue, Wuxi Lead Intelligent Equipment is the second-largest supplier of new energy smart equipment globally, with a market share of 2.9%. According to Frost & Sullivan data, by 2024, the global lithium battery intelligent equipment market accounts for about 13.5% of the global new energy smart equipment market. In the same year, based on revenue, Wuxi Lead Intelligent Equipment is the largest supplier of lithium battery intelligent equipment globally, with a market share of 15.5%, and is also the largest supplier of lithium battery intelligent equipment in China, with a market share of 19.0% based on revenue. Wuxi Lead Intelligent Equipment's customer base is fully covered by leading companies in the global lithium battery industry such as Contemporary Amperex Technology, Tesla, Volkswagen, BMW, Mercedes, Toyota, LG Energy, SK On, Samsung SDI, Panasonic, ATL, CALB, Eve Energy Co., Ltd., Gotion High-tech, Envision Power, Ampace, Sunwoda Electronic, Honeycomb Energy, BYD Company Limited, and ACC.