We are pleased to announce that on 28 September 2023, China Merchants Securities (HK) Co., Limited (“CMS (HK)”, a subsidiary of China Merchants Securities International Company Limited), acting as one of the Joint Global Coordinators, Joint Bookrunners and Joint Lead Managers of ZX Inc. (“the Company”, stock code: 9890.HK), successfully assisted the Company to commence trading of its shares on the Main Board of The Stock Exchange of Hong Kong Limited (“HKEx”). A total of approximately 18.98 million shares are issued and offered under the Global Offering, at an offer price of HK$14.00 per share, raising a total of approximately HK$265.7 million (before the exercise of the over-allotment option) or HK$305.5 million (after the over-allotment option is fully exercised).
As one of the Joint Global Coordinators, CMS (HK) accompanied the Company to overcome difficulties and challenges along the way and has contributed significantly in terms of execution and marketing to the successful listing with the Company’s trust and support.
Leveraging our extensive project experience and in-depth understanding of the online gaming sector, CMS (HK) helped the Company identify its unique strengths compared to its competitors and fully showcase its investment highlights to investors, whose confidence was further boosted through our continuous and timely communication. By fully utilizing our integrated platform and valuable client resources, CMS (HK) conducted thorough research and analysis into the upstream and downstream players of the Company and proactively approached several local government industrial investment platforms, and as a result, secured the cornerstone investments from 4399, Longsin and Shangrao High-speed Industrial Investment. With the extensive investor outreach and marketing work, CMS (HK) assisted the Company in completing the listing despite the current fluctuating market. The capital market has responded positively to its IPO, with 4 cornerstone investors subscribing for a total number of shares equivalent to approximately USD11.3 million. Overall, the International Placing received 1.67 times subscription and the Hong Kong Public Offering received 104.00 times subscription. Due to the outstanding performance in this IPO project, CMS (HK) has received strong recognition from the Company.
About ZX Inc.
The Company is a publisher of online game products in China. It is devoted to marketing and operating online games (in particular mobile games) in China. The online games developed by its clients marketed and operated by it are delivered to players under the “Tan Wan” brand. According to Frost & Sullivan, it is the fifth largest company for publishing mobile game products in terms of revenue in China, accounting for 3.5% of the total market share in 2022. The top four participants in China’s mobile game market accounted for more than 60% of the total market share of China’s mobile game market in 2022.