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China’s Wastewater Service Provider Delays HK$104M Hong Kong IPO

Investing.com

Investing.com - China’s wastewater service provider Til Enviro Limited has postponed its IPO date from Nov. 19 to Nov. 29, the company announced on Wednesday.

The company has also set the determined offer price per share to HK$0.58, within a revised price range between HK$0.5-0.599. The new price is lower than the original price range between HK0.6-0.8 per share.

The Cayman Islands-registered company expects to raise about HK$104.4 million in its IPO.

Til Enviro said in its prospectus that it plans to use 80% of the funds on “upgrading and expansion works,” while it will spend 10% of the proceeds on its new treatment projects in Ningxia and other regions in China. The remaining 10% will go to enhancing its wastewater monitoring system and other corporate matters.

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