Jl Mag Rare-Earth Co.Ltd(300748) (06680) announced that the stable price period of the global offering had ended on February 6, 2022 (i.e. the 30th day after the deadline for submission of Hong Kong public offering applications).
The price stabilizing actions taken by the price stabilizing operator CITIC CLSA, its affiliates or any person acting on its behalf during the price stabilizing period are as follows:
(I) a total of 18.744 million H shares were over allocated in the international offering, equivalent to about 14.9% of the offer shares initially submitted for sale under the global offering (before the exercise of the over allotment right); and
(II) continue to purchase a total of 18.744 million H shares in the market at the price range of HK $26.00 to HK $33.35 per H share during the price stabilization period, equivalent to about 14.9% of the offer shares initially offered under the global offering (before the exercise of the over allotment right). During the price stabilization period, the price stabilization manager made the last share purchase in the market at the price of HK $31.00 per H share on February 4, 2022.
The joint representatives (for themselves and on behalf of the International Underwriters) did not exercise the over allotment rights during the stable price period, so the over allotment rights have expired on February 6, 2022.
The directors confirm that immediately after the end of the price stabilization period, the company will continue to comply with the public shareholding requirement of rule 8.08 (1) (b) of the listing rules.
