hk-ipo/data/extracted_text/01334/allotment_results_2024-07-09_2024070901007.txt

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Hong Kong Exchanges and Clearing Limited, The Stock Exchange of Hong Kong Limited (the
“Stock Exchange ”) and Hong Kong Securities Clearing Company Limited (“ HKSCC”) take
no responsibility for the contents of this announcement, make no representation as to its
accuracy or completeness and expressly disclaim any liability whatsoever for any loss
howsoever arising from or in reliance upon the whole or any part of the contents of this
announcement.
Unless otherwise defined herein, capitalized terms used in this announcement shall have the
same meanings as those defined in the prospectus dated Friday, 28 June 2024 (the
“Prospectus ”) issued by RUICHANG INTERNATIONAL HOLDINGS LIMITED (਷ყછ
ʮ̡) (the “ Company ”).
This announcement is for information purposes only and does not constitute an invitation or
offer to acquire, purchase or subscribe for any securities. This announcement is not a
prospectus. Potential investors should read the Prospectus for detailed information about the
Company and the Global Offering described below before deciding whether or not to invest in
the Offer Shares.
This announcement does not constitute an offer to sell or the solicitation of an offer to buy nor
shall there be any sale of Offer Shares in any jurisdiction in which such offer, solicitation or
sales would be unlawful. This announcement is not for release, publication, distribution,
directly or indirectly, in or into the United States for sale or solicitation to purchase or
subscribe for securities in the United States or any other jurisdictions. The Offer Shares have
not been, and will not be, registered under the United States Securities Act 1933, as amended
or supplemented from time to time (the “ U.S. Securities Act ”) or any state securities law of
the United States and may not be offered, sold, pledged, transferred or delivered within the
United States, except pursuant to an exemption from, or in a transaction not subject to, the
registration requirements of the U.S. Securities Act and state securities laws of the United
States. The Offer Shares are being offered and sold outside of the United States as offshore
transactions in accordance with Regulation S under the U.S. Securities Act and the applicable
laws of each jurisdiction where those offers and sales occur. There will not be and is not
currently intended to be any public offering of securities of the Company in the United States.
The Sponsor-Overall Coordinator confirms that there has been no over-allocation of the
Shares under the International Placing. Therefore, the Stock Borrowing Agreement will not be
entered into and the Over-allotment Option will not be exercised. In view of the fact that there
has been no over-allocation of the Shares under the International Placing, no stabilising
action as described in the Prospectus will be taken during the stabilisation period.


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RUICHANG INTERNATIONAL HOLDINGS LIMITED
ʮ ̡
(Incorporated in the Cayman Islands with limited liability)
GLOBAL OFFERING
Number of Offer Shares
under the Global Offering
: 125,000,000
Number of Hong Kong Offer Shares : 15,675,000 Shares (as adjusted after reallocation)
Number of International Placing Shares : 109,325,000 Shares (as adjusted after reallocation)
Final Offer Price : HK$1.05 per Offer Share plus brokerage of 1%,
 SFC transaction levy of 0.0027%, Stock
 Exchange trading fee of 0.00565% and AFRC
 transaction levy of 0.00015%
Nominal Value : US$0.00001 per Share
Stock Code : 1334
Sole Sponsor
Overall Coordinators, Joint Global Coordinators, Joint Bookrunners and Joint Lead Managers
Joint Bookrunners and Joint Lead Managers
⳪暲@:9)


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RUICHANG INTERNATIONAL HOLDINGS LIMITED/ʮ̡
ANNOUNCEMENT OF FINAL OFFER PRICE AND
ALLOTMENT RESULTS
Unless otherwise defined herein, capitalised terms used in this announcement shall have the
same meanings as those defined in the prospectus dated 28 June 2024 (the “ Prospectus ”)
issued by RUICHANG INTERNATIONAL HOLDINGS LIMITED (ʮ̡)
(the “ Company ”).
Warning: In view of high concentration of shareholding in a small number of
Shareholders, Shareholders and prospective investors should be aware that the price
of the Shares could move substantially even with a small number of Shares traded and
should exercise extreme caution when dealing in the Shares.
SUMMARY
Company information
Stock code 1334
Stock short name RUICHANG INTL
Dealings commencement date 10 July 2024*
* see note at the end of the announcement
Price Information
Final Offer Price HK$1.05
Offer Price Range HK$1.05–HK$1.39
Offer Price Adjustment exercised No
Offer Shares and Share Capital
Initial number of Offer Shares (before over-
allocation)
125,000,000
No. of Offer Shares in Hong Kong Public Offering
(after reallocation)
15,675,000
No. of offer shares in International Placing (after
reallocation)
109,325,000
No. of issued shares upon Listing 500,000,000
Over-allocation
No. of Offer Shares over-allocated 0
Proceeds
Gross proceeds (Note) HK$131.3 million
Less: Estimated listing expenses payable based on
Final Offer Price
HK$(69.3) million
Net proceeds HK$62.0 million
Note: Gross proceeds refers to the amount to which the issuer is entitled receive. For details of the use of
proceeds, please refer to the Prospectus dated 28 June 2024.


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ALLOTMENT RESULTS DETAILS
HONG KONG PUBLIC OFFERING
No. of valid applications 5,537
No. of successful applications 2,317
Subscription level 19.24 times
Re-allocation Yes
No. of Offer Shares initially available under the Hong Kong
Public Offering
12,500,000
No. of Offer Shares reallocated from the International Placing 3,175,000
Final no. of Offer Shares under the Hong Kong Public Offering
(after reallocation)
15,675,000
% of final no. Offer Shares under the Hong Kong Public
Offering to the Global Offering (after reallocation)
12.54%
Note: For details of the final allocation of shares to the Hong Kong Public Offering, investors can
refer to www.eipo.com.hk/eIPOAllotment  to perform a search by name or identification number or
www.eipo.com.hk/eIPOAllotment  for the full list of allottees.
INTERNATIONAL PLACING
No. of placees 142
Subscription level 0.97 times
No. of Offer Shares initially available under the International
Placing
112,500,000
No. of Offer Shares reallocated to the Hong Kong Public
Offering
3,175,000
Final no. of Offer Shares under the International Placing (after
reallocation)
109,325,000
% of final no. Offer Shares under the International Placing to
the Global Offering (after reallocation)
87.46%
Since the International Placing are undersubscribed and the Hong Kong Public Offering are
oversubscribed, the reallocation procedure as described in the section headed “Structure and
Conditions of the Global Offering — The Hong Kong Public Offering — Reallocation” in the
Prospectus have been applied, the Overall Coordinators and each of the Directors confirm
that the maximum total number of offer shares that may be allocated to the Hong Kong Public
Offering following the reallocation (“ the Allocation Cap ”) has not been exceeded.
The Directors confirm that, to the best of their knowledge, information and belief, (i) none of
the Offer Shares subscribed by the placees and the public have been financed directly or
indirectly by the Company, any of the Directors, chief executive of the Company, controlling
shareholders, substantial shareholders, existing shareholders of the Company or any of its
subsidiaries or their respective close associates; and (ii) none of the placees and the public
who have purchased the Offer Shares are accustomed to taking instructions from the
Company, any of the Directors, chief executive of the Company, controlling shareholders,
substantial shareholders, existing shareholders of the Company or any of its subsidiaries or
their respective close associates in relation to the acquisition, disposal, voting or other
disposition of Shares registered in his/her/its name or otherwise held by him/her/it.


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The placees in the International Placing include the following:
Cornerstone Investors
Investor
Number of Offer
Shares allocated % of Offer Shares
% of total issued
share capital after
the Global
Offering
Existing
shareholders or
their close
associates
Huangshan City Investment
 Private Equity Fund
 Management Co., Ltd./
 ၍ଣ
 ʮ̡
28,570,000 22.86% 5.71% No
Huangshan Chenghe Xinye
 Equity Investment
 Partnership (Limited
 Partnership)/ රʆ̹༐
 ᛆҳ༟Υྫ
 Άุ(Υྫ)
19,047,500 15.24% 3.81% No
Emsdom Limited 7,427,500 5.94% 1.49% No
Subtotal 55,045,000 44.04% 11.01%


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LOCK-UP UNDERTAKINGS
Controlling Shareholders
Name
Number of shares held
in the Company subject
to lock-up undertakings
upon listing
% of shareholding in the
Company subject to
lock-up undertakings
upon listing
Last day subject to the
lock-up undertakings
One Ideal Limited (1) 164,171,263 32.83% 9 January 2025
(First Six-Month Period) (3)
9 July 2025
(Second Six-Month Period) (4)
Riches Development
 Holdings Limited (1)
5,598,240 1.12% 9 January 2025
(First Six-Month Period) (3)
9 July 2025
(Second Six-Month Period) (4)
Lady Jing Limited (2) 164,171,263 32.83% 9 January 2025
(First Six-Month Period) (3)
9 July 2025
(Second Six-Month Period) (4)
Richen Development
 Holdings Limited (2)
5,598,240 1.12% 9 January 2025
(First Six-Month Period) (3)
9 July 2025
(Second Six-Month Period) (4)
Subtotal 339,539,006 67.90%
In accordance with the relevant Listing Rule/guidance materials, the required lock-up for
the first six-month period ends on 9 January 2025 and for the second six-month period, on
9 July 2025.
Notes:
1. One Ideal Limited is held as to 99.00% by Now Wealth Limited, which is in turn wholly-owned by The LB
Personal Trust, being a family trust to which Mr. Lu Bo is a beneficiary. Riches Development Holdings
Limited is wholly-owned by Mr. Lu Bo. As such, under the SFO, Mr. Lu Bo is deemed to be interested in the
Shares held by One Ideal Limited and Riches Development Holdings Limited. Mr. Lu Bo (together with
Riches Development, One Ideal Limited and Now Wealth Limited) is subject to required lock-up for the first
six-month period ends on 9 January 2025 and for the second six-month period, on 9 July 2025. Details of
which are set out in the section headed “Substantial Shareholders” in the Prospectus.
2. Lady Jing Limited is held as to 99.00% by LXJ Limited, which is in turn wholly-owned by The LXJ Personal
Trust, being a family trust to which Ms. Lu Xiaojing is a beneficiary. Richen Development Holdings Limited
is wholly-owned by Ms. Lu Xiaojing. As such, under the SFO, Ms. Lu Xiaojing is deemed to be interested in
the Shares held by Lady Jing Limited and Richen Development Holdings Limited. Ms. Lu Xiaojing (together
with Richen Development, Lady Jing Limited and LXJ Limited) is subject to required lock-up for the first
six-month period ends on 9 January 2025 and for the second six-month period, on 9 July 2025. Details of
which are set out in the section headed “Substantial Shareholders” in the Prospectus.
3. The Controlling Shareholders may dispose of or transfer Shares after the indicated date subject to that the
Controlling Shareholder will not cease to be a Controlling Shareholder.
4. The Controlling Shareholders will cease to be prohibited from disposing of or transferring Shares after the
indicated date.


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Pre-IPO Investors (as defined in the “History, Reorganisation and Corporate Structure”
section of the Prospectus)
Name
Number of shares held
in the Company subject
to lock-up undertakings
upon listing
% of shareholding
in the Company
subject to lock-up
undertakings upon
listing
Last day subject to the
lock-up undertakings
Tang Yinsheng 14,906,751 2.98% 9 January 2025  (1)
Li Yijun 9,160,757 1.83% 9 January 2025  (1)
Subtotal 24,067,508 4.81%
Note:
1. The expiry date of the lock-up period shown in the table above is pursuant to the disclosure in the
Prospectus. For details, please see section headed “History, Reorganisation and Corporate Structure” in
the Prospectus.
Cornerstone Investors
Name
Number of shares held
in the Company subject
to lock-up undertakings
upon listing
% of shareholding
in the Company
subject to lock-up
undertakings upon
listing
Last day subject to the
lock-up undertakings
Huangshan City Investment
 Private Equity Fund
 Management Co., Ltd./
 ၍ଣ
 ʮ̡
28,570,000 5.71% 9 January 2025
Huangshan Chenghe Xinye
 Equity Investment
 Partnership (Limited
 Partnership)/ රʆ̹༐Υ
 ᛆҳ༟ΥྫΆุ
 (Υྫ)
19,047,500 3.81% 9 January 2025
Emsdom Limited 7,427,500 1.49% 9 January 2025
Subtotal 55,045,000 11.01%
The Cornerstone Investors shall not dispose of any of the Offer Shares subscribed pursuant to the Cornerstone
Investment Agreement on or before the indicated date.


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PLACEE CONCENTRATION ANALYSIS
Placees (1)
Number of
International
Placing Shares
allotted
Allotment as %
of International
Placing
Allotment
as % of total
Offer Shares
Number of
Shares held
upon Listing
% of total
issued share
capital upon
Listing
Top 1(2) 47,617,500 43.56% 38.09% 47,617,500 9.52%
Top 5(2) 86,480,000 79.10% 69.18% 86,480,000 17.30%
Top 10 (2) 98,822,500 90.39% 79.06% 98,822,500 19.76%
Top 25 (2) 108,790,000 99.51% 87.03% 108,790,000 21.76%
Notes:
1. Ranking of placees is based on the number of Shares allotted to the placees.
2. The number of Shares of the top 1, top 5, top 10 and top 25 placees upon Listing has taken into account (i) the Offer Shares allocated to Huangshan City
Investment Private Equity Fund Management Co., Ltd.; and (ii) the Offer Shares allocated to Huangshan Chenghe Xinye Equity Investment Partnership
(Limited Partnership), which have been aggregated for the purpose of this analysis, as Huangshan City Investment Private Equity Fund Management Co.,
Ltd. and Huangshan Chenghe Xinye Equity Investment Partnership (Limited Partnership) are ultimately controlled by the State-owned Assets Supervision
and Administration Commission of the People’s Government of Huangshan City. For details, please see section headed “Cornerstone Investors — Our
Cornerstone Investors” in the Prospectus.


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SHAREHOLDER CONCENTRATION ANALYSIS
Shareholders (1)
Number of
International
Placing Shares
allotted
Number of
Hong Kong
Offer Shares
allotted
Total
Number of
Shares
allotted
Allotment as %
of International
Placing
Allotment as %
of Hong Kong
Public
Offering
Allotment
as % of total
Offer Shares
Number of
Shares held
upon Listing
% of total
issued share
capital upon
Listing
Top 1(2) N/A N/A N/A N/A N/A N/A 169,769,503 33.95%
Top 5(2) 59,520,000 N/A 59,520,000 54.44% N/A 47.62% 413,965,757 82.79%
Top 10 (2) 86,480,000 N/A 86,480,000 79.10% N/A 69.18% 461,480,000 92.30%
Top 25 (2) 102,895,000 7,837,500 110,732,500 94.12% 50.00% 88.59% 485,732,500 97.15%
Notes:
1. Ranking of Shareholders is based on the number of Shares (of all classes) held by the Shareholder upon Listing.
2. The Offer Shares allocated to Huangshan City Investment Private Equity Fund Management Co., Ltd. and the Offer Shares allocated to Huangshan
Chenghe Xinye Equity Investment Partnership (Limited Partnership) have been aggregated for the purpose of this analysis, as Huangshan City Investment
Private Equity Fund Management Co., Ltd., and Huangshan Chenghe Xinye Equity Investment Partnership (Limited Partnership) are ultimately controlled
by the State-owned Assets Supervision and Administration Commission of the People’s Government of Huangshan City. For details, please see section
headed “Cornerstone Investors — Our Cornerstone Investors” in the Prospectus.


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BASIS OF ALLOCATION UNDER THE HONG KONG PUBLIC OFFERING
Subject to the satisfaction of the conditions set out in the Prospectus, valid applications made
by the public will be conditionally allocated on the basis set out below:
Pool A
Number
of shares
applied for
Number
of valid
applications Basis of allocations/ballot
Approximate
percentage
allotted of the
total number
of shares
applied for
2,500 2,739 548 out of 2,739 to receive 2,500 Shares 20.01%
5,000 705 178 out of 705 to receive 2,500 Shares 12.62%
7,500 180 54 out of 180 to receive 2,500 Shares 10.00%
10,000 128 46 out of 128 to receive 2,500 Shares 8.98%
12,500 109 46 out of 109 to receive 2,500 Shares 8.44%
15,000 81 39 out of 81 to receive 2,500 Shares 8.02%
17,500 30 16 out of 30 to receive 2,500 Shares 7.62%
20,000 83 48 out of 83 to receive 2,500 Shares 7.23%
25,000 209 146 out of 209 to receive 2,500 Shares 6.99%
30,000 83 65 out of 83 to receive 2,500 Shares 6.53%
35,000 310 260 out of 310 to receive 2,500 Shares 5.99%
40,000 73 65 out of 73 to receive 2,500 Shares 5.57%
45,000 29 28 out of 29 to receive 2,500 Shares 5.36%
50,000 139 2,500 Shares 5.00%
60,000 40 2,500 Shares plus 6 out of 40 to receive additional
2,500 Shares
4.79%
70,000 83 2,500 Shares plus 24 out of 83 to receive additional
2,500 Shares
4.60%
80,000 36 2,500 Shares plus 15 out of 36 to receive additional
2,500 Shares
4.43%
90,000 25 2,500 Shares plus 13 out of 25 to receive additional
2,500 Shares
4.22%
100,000 159 2,500 Shares plus 95 out of 159 to receive additional
2,500 Shares
3.99%
200,000 121 5,000 Shares 2.50%
300,000 61 5,000 Shares plus 39 out of 61 to receive additional
2,500 Shares
2.20%
400,000 23 7,500 Shares 1.88%
500,000 23 7,500 Shares plus 14 out of 23 to receive additional
2,500 Shares
1.80%


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Number
of shares
applied for
Number
of valid
applications Basis of allocations/ballot
Approximate
percentage
allotted of the
total number
of shares
applied for
600,000 17 10,000 Shares 1.67%
700,000 6 10,000 Shares plus 3 out of 6 to receive additional
2,500 Shares
1.61%
800,000 4 12,500 Shares 1.56%
900,000 6 12,500 Shares plus 3 out of 6 to receive additional
2,500 Shares
1.53%
1,000,000 11 15,000 Shares 1.50%
1,250,000 3 17,500 Shares 1.40%
1,500,000 4 20,000 Shares 1.33%
1,750,000 2 22,500 Shares 1.29%
2,000,000 1 25,000 Shares 1.25%
2,250,000 1 27,500 Shares 1.22%
2,500,000 1 30,000 Shares 1.20%
2,750,000 2 32,500 Shares 1.18%
3,000,000 1 35,000 Shares 1.17%
3,500,000 3 40,000 Shares 1.14%

Total 5,531 Total number of Pool A successful applicants: 2,311

Pool B
Number
of shares
applied for
Number
of valid
applications Basis of allocations/ballot
Approximate
percentage
allotted of the
total number
of shares
applied for
3,750,000 4 1,067,500 Shares plus 2 out of 4 to receive additional
2,500 Shares
28.50%
6,250,000 2 1,780,000 Shares plus 1 out of 2 to receive additional
2,500 Shares
28.50%

Total 6 Total number of Pool B successful applicants: 6


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As of the date of this announcement, the relevant subscription monies previously deposited in
the designated nominee accounts have been remitted back to the accounts of all HKSCC
participants. Investors should contact their relevant brokers for any inquiries.
COMPLIANCE WITH LISTING RULES AND GUIDANCE
The Directors confirm that, except for the Listing Rules that have been waived and/or in
respect of which consent has been obtained, the Company has complied with the Listing Rules
and guidance materials in relation to the placing, allotment and listing of the Company’s
shares.
The Directors confirm that, to the best of their knowledge, the consideration paid by the
placees or the public (as the case may be) directly or indirectly for each Offer Share
subscribed for or purchased by them was the same as the final Offer Price in addition to any
brokerage, AFRC transaction levy, SFC transaction levy and trading fee payable.
DISCLAIMERS
Hong Kong Exchanges and Clearing Limited, The Stock Exchange of Hong Kong Limited
(the “ Stock Exchange ”) and Hong Kong Securities Clearing Company Limited (“ HKSCC”)
take no responsibility for the contents of this announcement, make no representation as to
its accuracy or completeness and expressly disclaim any liability whatsoever for any loss
howsoever arising from or in reliance upon the whole or any part of the contents of this
announcement.
This announcement is not for release, publication, distribution, directly or indirectly, in or
into the United States (including its territories and possessions, any state of the United
States and the District of Columbia). This announcement does not constitute or form a part
of any offer or solicitation to purchase or subscribe for securities in the United States. The
securities mentioned herein have not been, and will not be, registered under the United
States Securities Act of 1933, as amended (the “ U.S. Securities Act ”). The securities may
not be offered or sold in the United States except pursuant to an exemption from the
registration requirements of the U.S. Securities Act and in compliance with any applicable
state securities laws, or outside the United States unless in compliance with Regulation S
under the U.S. Securities Act. There will be no public offer of securities in the United States.
The Offer Shares are being offered and sold outside the United States in offshore
transactions in reliance on Regulation S under the U.S. Securities Act.


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This announcement is for information purposes only and does not constitute an invitation or
offer to acquire, purchase or subscribe for securities. This announcement is not a
prospectus. Potential investors should read the Prospectus dated 28 June 2024 issued by
the Company for detailed information about the Global Offering described in the Prospectus
and in this announcement before deciding whether or not to invest in the Offer Shares.
* Potential investors of the Offer Shares should note that the Overall Coordinators and the Joint Global
Coordinators (for themselves and on behalf of the Hong Kong Underwriters) shall be entitled to terminate
their obligations under the Hong Kong Underwriting Agreement with immediate effect upon the occurrence of
any of the events set out in the paragraph headed “Underwriting — Underwriting Arrangements and Expenses
— Hong Kong Public Offering — Hong Kong Underwriting Agreement — Grounds for Termination” in the
Prospectus at any time prior to 8:00 a.m. (Hong Kong time) on the Listing Date (which is currently expected
to be on 10 July 2024).


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PUBLIC FLOAT
The Directors confirm that, immediately following completion of the Global Offering: (i) at
least 25% of the total number of issued Shares of the Company will be held by the public, in
compliance with Rule 8.08(1) of the Listing Rules; (ii) the three largest public Shareholders
do not hold more than 50% of the Shares held in the public hands at the time of the Listing in
compliance with Rules 8.08(3) and 8.24 of the Listing Rules; (iii) no placee will, individually,
be placed more than 10% of the enlarged issued share capital of the Company immediately
after the Global Offering; (iv) there will not be any new substantial Shareholder (as defined in
the Listing Rules) of the Company; and (v) there will be at least 300 Shareholders at the time
of the Listing in compliance with Rule 8.08(2) of the Listing Rules.
COMMENCEMENT OF DEALINGS
Share certificates will only become valid evidence of title at 8:00 a.m. on Wednesday, 10 July
2024 (Hong Kong time), provided that the Global Offering has become unconditional and the
right of termination described in the section headed “Underwriting” in the Prospectus has not
been exercised. Investors who trade the Shares on the basis of publicly available allocation
details prior to the receipt of Share certificates or prior to the Share certificates becoming
valid evidence of title do so entirely at their own risk. Assuming that the Global Offering
becomes unconditional at or before 8:00 a.m. in Hong Kong on Wednesday, 10 July 2024, it is
expected that dealings in the Shares on the Stock Exchange will commence at 9:00 a.m. on
Wednesday, 10 July 2024 (Hong Kong time).
The Shares will be traded in board lots of 2,500 Shares each, and the stock code of the Shares
will be 1334.
By order of the Board
RUICHANG INTERNATIONAL HOLDINGS LIMITED
Mr. LU Bo
Chairman of the Board, chief executive officer
and executive Director
Hong Kong, 9 July 2024
As at the date of this announcement, the Board comprises Mr. LU Bo, Ms. LU Xiaojing,
Ms. BAI Wei, Mr. SHAO Song and Ms. WU Rui as executive directors; and Mr. TU Shenwei,
Mr. ZHANG Shengjie and Mr. BAU Siu Fung as independent non-executive directors.