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Insider sources reveal that Seres' Hong Kong Initial Public Offering (IPO), valued at US$1.8 billion, has garnered subscription commitments from more than 300 institutional investors, not including cornerstone investors. Among the top 20 institutions, subscriptions accounted for roughly 50% of the total. The investor pool encompasses a diverse range, including global pure long-only funds (funds that only take long positions, betting on asset price increases), sovereign wealth funds (state-owned investment funds), and other types of investors. The retail portion of the IPO in Hong Kong witnessed an overwhelming response, with subscriptions exceeding available shares by over 130 times. Seres has finalized the issue price for its H-shares at HK$131.5 per share. The company is slated to make its debut on the Main Board of the Hong Kong Stock Exchange on November 5.
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