AMTD acts as lead underwriter for Weigang Environment's Hong Kong IPO
AMTD International served as joint bookrunner for Weigang Environmental Technology's listing on the Hong Kong Stock Exchange, marking the city's first IPO of 2019.
Guangzhou-based waste treatment firm Weigang Environmental Technology Holding Group Limited officially listed on the Main Board of the Hong Kong Stock Exchange on January 3, 2019. The offering, which AMTD assisted as a joint bookrunner and lead manager, served as the market's first IPO of the new year.
The company offered 312 million shares priced at HK$0.88 each, raising approximately US$35 million in gross proceeds. Weigang specializes in hazardous waste incineration and related turnkey solutions, claiming a 37.3% share of China’s centralized hazardous waste incineration capacity currently under construction.
This transaction continues AMTD’s recent focus on underwriting IPOs for technology and industrial firms in the Greater Bay Area. AMTD has previously managed listings for companies including Xiaomi and Meituan Dianping, positioning itself as a primary financial intermediary for Chinese enterprises seeking access to international capital via the Hong Kong market.