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 Overall Coordinators, Joint Global Coordinators, Joint Bookrunners and Joint Lead Managers of Beijing Fourth Paradigm Technology Co., Ltd. (“Fourth Paradigm Technology” or “the Company”, stock code: 6682.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 18.40 million shares are issued and offered under the Global Offering, at an offer price of HK$55.60 per share, raising a total of approximately HK$1.02 billion (before the exercise of the over-allotment option) or HK$1.18 billion (after the over-allotment option is fully exercised).
As one of the Overall Coordinators, CMS (HK) accompanies Fourth Paradigm Technology to overcome difficulties along the way and contributes to the successful listing with the trust and support from the Company.
Leveraging our extensive project experience and in-depth understanding of the AI Technology sector, CMS (HK) assisted the Company to pinpoint its unique strengths as compared with its competitors, and to 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) selectively arranged more than 30 online/offline roadshow meetings, and invited more than 50 international and Chinese investors including long-only funds, multi-strategy funds, corporate investors and PE funds to meet with the Company and thus enabled them to have a better understanding of the Company’s technology, brand and R&D capacity. After extensive investor outreach and marketing work, CMS (HK) assisted the Company to complete the listing despite the current fluctuating market. The capital market has given positive response to Fourth Paradigm Technology’s IPO, in which 3 cornerstone investor subscribed for a total number of shares equivalent to approximately USD96.8 million. Overall, the International Placing received 1.57 times subscription and the Hong Kong Public Offering received 11.40 times subscription.
About Fourth Paradigm Technology
Fourth Paradigm Technology is a leader in enterprise AI, an AI software company which focuses on providing platform-centric AI software which enables enterprises to develop their own decision-making AI applications. The Company’s enterprise-level solutions are designed to serve enterprises, rather than individuals. The Company offers platform-centric AI solutions that can be rapidly deployed by enterprises on a large scale to uncover hidden patterns in data and comprehensively enhance their decision-making capabilities.