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DAIKIYA GROUP (06813) pricing IPO at $1.6-2
24 Jan 2020
(Infocast News) Daikiya Group (06813), a Hong Kong based Japanese cuisine restaurant group, is expected to start its initial public offering on 24 January 2020. Details of the IPO are as follows:

Shares for offer: 100 million H shares, of which 90% are for international placing and 10% are for Hong Kong public offering, with an option to offer an additional 15% shares

Offer price: HK$1.6 - 2 per share

Gross proceeds: HK$160 million - 200 million

Net proceeds: HK$130 million (assuming an offer price of HK$1.8 per share)

Use of net proceeds:
- 28.5% for expanding restaurant network in Hong Kong by opening a total of three Japanese all-you-can-eat restaurants;
- 38.5% for establishing a new central kitchen and cold storage facilities;
- 23.0% for refurbishing four of existing restaurants in Hong Kong; and
- 10.0% for general working capital.

The shares for Hong Kong public offering will be increased:
- to 30% of all global offer shares if the Hong Kong public offer shares are over-subscribed by 15x or higer;
- to 40% of all global offer shares if the over-subscribed by 50x or higer; and
- to 50% of all global offer shares if the over-subscribed by 100x or higer.

Board lot size: 2,000 shares

IPO entry fee: HK$4,040.31

Offer period: January 24, 2020 to noon on February 4, 2020

Pricing date: February 6, 2020

Listing date: February 14, 2020

Sponsor: Alliance Capital Partners

Receiving Bank: Bank of China (Hong Kong)

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