Fortior Technology completed its global offering and H-share listing on the Hong Kong Stock Exchange, achieving a market capitalization of $1.68 billion and raising $290 million.
The global offering consisted of a Hong Kong public offering and an international offering under Regulation S. The Hong Kong public offering was oversubscribed by over 100 times. In the international offering, ten cornerstone investors subscribed for H Shares totaling $112 million.
Fortior Technology is a pioneering integrated circuits (ICs) design company specializing in the design and R&D of BLDC motor control ICs.
S&C acted as Hong Kong and U.S. counsel to the sole sponsor, China International Capital Corporation Hong Kong Securities Limited, and the underwriters, China International Capital Corporation Hong Kong Securities Limited, BOCI Asia Limited and GF Securities (Hong Kong) Brokerage Limited.
The S&C team was led by Kay Ian Ng, Gwen Wong and Ching-Yang Lin. The core team consisted of Xi Rui, Koey Chan and trainee solicitor Alicia So.