GUMING: Over-allotment option partially exercised, stabilization period ends
GUMING announced that its over-allotment option has been partially exercised, involving 21.8692 million shares at HKD 9.94 per share. This move supplements the over-allocation of the international offering. Goldman Sachs International has borrowed 27.3604 million shares to support this operation. According to Hong Kong law, the company confirms that the stabilization period for the global offering ended on March 9, 2025
According to the Zhitong Finance APP, GUMING (01364) announced that on March 9, 2025 (Sunday), the overall coordinator representing the international underwriters partially exercised the over-allotment option as stated in the prospectus at HKD 9.94 per share, involving a total of 21,869,200 shares, which is approximately 12% of the total number of shares available for subscription under the global offering after the exercise of the offering adjustment rights but before any exercise of the over-allotment option, to make up for the over-allocation in the international offering.
According to the stock borrowing agreement between Goldman Sachs International and Modern Leaves Limited, Goldman Sachs International has borrowed 27,360,400 shares from Modern Leaves Limited to make up for the over-allocation in the international offering. The over-allotted shares will be used to facilitate the return of the borrowed shares to Modern Leaves Limited.
In accordance with Section 9(2) of the Securities and Futures (Stabilizing Prices) Rules (Cap. 571W) of Hong Kong legislation, the company announced that the stabilization period for the global offering ended on March 9, 2025 (Sunday) (i.e., the 30th day after the deadline for submitting applications for the Hong Kong public offering)
