Deloitte assists listing of MTT Holdings on Stock Exchange of Hong Kong
The most oversubscribed IPO in Hong Kong year to-date
Publish date: 26 September 2022
Deloitte China assisted the listing of MTT Group Holdings Limited ("MTT Holdings", stock code: 02350.HK) on the Main Board of the Stock Exchange of Hong Kong (the Exchange) on 26 September 2022.
The public offering amount of MTT holdings is 156.25 million shares at an offering price of HKD0.85 per share, raising HKD133 million in total. The public subscription rate of this offering reached 151 times, which is the most among all the initial public offerings (IPOs) in Hong Kong year to-date.
(From left) Robert Lui, Southern Region Offering Services leader and Hong Kong Offering leader of Capital Market Services Group as well as Lead Client Service partner of MTT Holdings' IPO engagement; Charlie Ip, Chairman and Chief Executive Officer of MTT Holdings; and Fran Hung, Audit & Assurance partner attend the listing ceremony of MTT Holdings at the Stock Exchange of Hong Kong.
(From left) Nikko Chow, A&A associate; Robert Lui, Southern Region Offering Services leader and Hong Kong Offering leader of Capital Market Services Group as well as Lead Client Service partner of MTT Holdings' IPO engagement; Charlie Ip, Chairman and CEO of MTT Holdings; Fran Hung, A&A partner; and Picken Wan and Jordan Ki, A&A managers attend the listing celebration banquet of MTT Holdings.
About the client
MTT Holdings is an information technology (IT) solution provider established in Hong Kong. It primarily engages in the distribution of IT products in Hong Kong and provision of system integration (SI) solutions in Hong Kong, the PRC and Macau. It provides integrated IT products and customized SI solution that cover every business sector for its customers and consumers in the value chain of IT industry.
Its business model involves dual roles as a distributor and a reseller in the IT industry. Currently, fewer than 10 SI solution providers in Hong Kong are operating in such business model.
Source: IPO prospectus of MTT Holdings dated 13 September 2022
About the IPO engagement
Deloitte China established a multidisciplinary professional service engagement team with members from Audit & Assurance (A&A), Technical, and Risk Advisory and initiated the work after MTT Holdings started to prepare for its listing in June 2020.
Using their vast industry experience and outstanding service capability, the engagement team delivered the highest quality of professional services to MTT Holdings in this engagement.
Deloitte China congratulates MTT Holdings on its successful listing on the Exchange. Deloitte China is dedicated to providing clients with professional, high-quality audit services, helping them continue to forge ahead in a challenging macro-economic and capital market environment. We also look forward to leveraging our experience and perspective in China and international markets to help more companies diversify their strategic layouts, expand their capital scale, and accumulate advantageous resources.
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