米高集团 09879 Prospectus Information

IPO Timeline

Broker Deadline

2024-03-18

Morning deadline

HKEX Deadline

2024-03-18

Noon deadline

Broker Results (T-2)

2024-03-19

Some brokers release in afternoon

Grey Market (T-1)

2024-03-20

Afternoon

HKEX Allotment (T-1)

2024-03-20

Evening

Registrar Allotment (T-1)

2024-03-20

Evening

Listing Day (T)

2024-03-21

First day of trading

Company Overview

Stock Name	米高集团
Stock Code	09879
Company Full Name	米高集团
Industry	原材料
Principal Activities	公司是中國領先的鉀肥公司，具有集采購、制造、加工及銷售為一體的綜合能力，可以提供各類鉀肥產品，包括氯化鉀、硫酸鉀、硝酸鉀以及復合肥。
Listing Date	2024-03-21
Listing Rules Era	Old Rules
Listing Rules Chapter	To be extracted
Weighted Voting Rights (WVR)	No
Registered Address (Mainland China)	中國廣東省佛山市高明區滄江工業園東園慶洲開發區
Business Address (Hong Kong)	To be extracted
Place of Incorporation	To be extracted
Listing Method	To be extracted
Listing Board	Main Board
Website	http://www.migaogroup.com/
Share Registrar	卓佳证券登记有限公司 (Tricor Investor Services Limited)
Registrar Contact	(852)2980 1333
A-Share/US Dual Listing	No

Offering Information

Offering Mechanism	To be extracted
Offer Price	HK$ 4.30 / shares
Offer Price Range	Final offer price only, no range
Lot Size	To be extracted
Entry Threshold	To be extracted
Par Value	To be extracted
Offer Period	To be extracted
Global Offering Shares	To be extracted
HK Public Offer Shares (Initial)	To be extracted
Public Offer Lots (Initial)	To be extracted
International Placing Shares (Initial)	To be extracted
Offer Ratio	To be extracted
Total Shares Post-IPO	To be extracted
Greenshoe (Over-allotment Option)	Yes
Stabilizing Manager (Greenshoe)	To be extracted
Cornerstone Share	45.6%
Clawback Tiers	To be extracted
Reallocation Option	No
Total Global Offering Size	HK$ 91,800,000

Valuation & Financials

Market Cap (at Offer Price)	To be extracted
Pre-IPO Valuation (Last Round)	To be extracted
P/E Ratio	To be extracted
Profit/Loss Status	To be extracted
Period-End Cash Balance	To be extracted
Listing Expenses	To be extracted
Listing Expenses / Funds Raised	To be extracted
Total Pre-IPO Investment	To be extracted

First Day Performance

First Day Close	HK$ 4.09
First Day Open	HK$ 4.38
First Day Change	0.25%
First Day Volume	34513000.0
First Day Turnover	145381000.0

Use of Proceeds

Use of Proceeds	1、約322.4百萬港元（相當于約人民幣292.5百萬元），約45.2%擬用于建設黑龍江倉儲及生產中心； 2、約201.3百萬港元（相當于約人民幣182.7百萬元），約28.2%將用于投資及興建新四川生產設施； 3、約101.3百萬港元（相當于約人民幣91.8百萬元），約14.2%將用于為設立研發中心提供資金； 4、約42.9百萬港元（相當于約人民幣38.9百萬元），約6.0%將用于為廣東生產設施、長春生產設施及大興生產設施購買新設備和機器以更換現有設備及機器，以及購買新的環保及自動化設備和機器； 5、約46.0百萬港元（相當于約人民幣41.8百萬元），約6.4%將用作額外營運資金及其他一般企業用途。

1、約322.4百萬港元（相當于約人民幣292.5百萬元），約45.2%擬用于建設黑龍江倉儲及生產中心； 2、約201.3百萬港元（相當于約人民幣182.7百萬元），約28.2%將用于投資及興建新四川生產設施； 3、約101.3百萬港元（相當于約人民幣91.8百萬元），約14.2%將用于為設立研發中心提供資金； 4、約42.9百萬港元（相當于約人民幣38.9百萬元），約6.0%將用于為廣東生產設施、長春生產設施及大興生產設施購買新設備和機器以更換現有設備及機器，以及購買新的環保及自動化設備和機器； 5、約46.0百萬港元（相當于約人民幣41.8百萬元），約6.4%將用作額外營運資金及其他一般企業用途。

Underwriting Syndicate

Sole Sponsor (1)

广发融资（香港）有限公司 CE AOB163(sole)

Overall Coordinators (2)

广发证券（香港）经纪有限公司招银国际融资有限公司 CE AVM940

Joint Global Coordinators (3)

广发证券（香港）经纪有限公司招银国际融资有限公司 CE AVM940 安信国际证券（香港）有限公司

Joint Bookrunners (10)

广发证券（香港）经纪有限公司招银国际融资有限公司 CE AVM940 安信国际证券（香港）有限公司招商证券（香港）有限公司 CE AAI650 农银国际融资有限公司 CE AWL249 中国光大证券（香港）有限公司 CE AAW536 东吴证券国际经纪有限公司 CE AYA587 申万宏源证券（香港）有限公司 CE AAC927 东方证券（香港）有限公司 CE AVD362 利弗莫尔证券有限公司 CE BJN764

Joint Lead Managers (10)

广发证券（香港）经纪有限公司招银国际融资有限公司 CE AVM940 安信国际证券（香港）有限公司招商证券（香港）有限公司 CE AAI650 农银国际证券有限公司 CE ACX411 中国光大证券（香港）有限公司 CE AAW536 东吴证券国际经纪有限公司 CE AYA587 申万宏源证券（香港）有限公司 CE AAC927 东方证券（香港）有限公司 CE AVD362 利弗莫尔证券有限公司 CE BJN764

Capital Market Intermediaries (11)

广发证券（香港）经纪有限公司招银国际融资有限公司 CE AVM940 安信国际证券（香港）有限公司招商证券（香港）有限公司 CE AAI650 农银国际融资有限公司 CE AWL249 农银国际证券有限公司 CE ACX411 中国光大证券（香港）有限公司 CE AAW536 东吴证券国际经纪有限公司 CE AYA587 申万宏源证券（香港）有限公司 CE AAC927 东方证券（香港）有限公司 CE AVD362 利弗莫尔证券有限公司 CE BJN764

Service Providers

Role	Institution
Legal Advisor to Company	亚司特律师事务所竞天公诚律师事务所衡力斯律师事务所
Legal Advisor to Sponsors/Underwriters	摩根路易斯律师事务所通商律师事务所
Auditor and Reporting Accountant	德勤‧关黄陈方会计师行
Industry Advisor	弗若斯特沙利文（北京）咨询有限公司上海分公司
Receiving Banks	中国工商银行（亚洲）有限公司

Cornerstone Investors

#	Investor Name	Investment Amount	Shares Subscribed	% of Offer Shares	% of Total Shares	Lock-up Period	Est. Unlock Date
1	Harvest International Premium Value (Secondary Market) Fund SPC	156,553,680 HKD	—	17.05%	—	6 months	2024-09-21
2	Mega Dynamic Group Limited	78,274,800 HKD	—	8.53%	—	6 months	2024-09-21
3	沈阳信昌粮食贸易有限公司	163,599,840 HKD	—	17.82%	—	6 months	2024-09-21
4	新化科技有限公司	19,996,080 HKD	—	2.18%	—	6 months	2024-09-21

Directors & Management

Chairman	劉國才
Company Secretary	馮慧森

No director data available.

Major Shareholders

Major Shareholders & Holdings	米高控股有限公司(75%)

AI AI Analysis

Market Sentiment

The IPO was moderately oversubscribed at 9.79x, reflecting decent retail enthusiasm. The overall hit rate of 68.68% is relatively high for an oversubscribed deal, indicating generous allocations, likely influenced by clawback reallocation from the international tranche. (This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice.)

Tier Analysis

No tier-specific data is available for analysis, though the overall hit rate of 68.68% implies that allocations did not heavily favor larger applications. The reallocation of shares from the international tranche likely narrowed the gap between small and large retail lots. (This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice.)

Demographics

The applicant base was overwhelmingly mainland Chinese at 91.8%, suggesting the stock resonated with that demographic. The gender split was relatively balanced at 58.3% male and 41.7% female, with an average age of 42.4, typical of HK IPO participants. (This is AI-generated commentary based on historical data. Past patterns do not guarantee future outcomes. Not financial advice.)

IPO Timeline

米高集团 09879Prospectus Information

Market Sentiment

Tier Analysis

Demographics