CR Construction Group Holdings Limited Trading Debut Closed at HK$1.15 Per Share with an Increase of 15% as Compared to the Final Offer Price

CR Construction Group Holdings Limited

HONG KONG, CHINA - Media OutReach - 16 October 2019 - CR Construction Group Holdings Limited ("CR Construction", together with its subsidiaries, the "Group"; stock code: 1582.HK), the third largest main building contractor in Hong Kong in 2018[1], is pleased to announce its successful listing on the Main Board of The Stock Exchange of Hong Kong Limited ("SEHK") today. 

 

The closing price of the Company's shares was HK$1.15 per share, which was 15% higher than the final offer price of HK$1.0 per share. The highest share price of the day was HK$2.78 per share. On its first trading day, trading volume of the shares of the Company reached approximately 114.5 million with a total turnover of over HK$201 million.

 

First Shanghai Capital Limited is the Sole Sponsor, while First Shanghai Securities Limited, Zhongtai International Securities Limited, First Capital Securities Limited, Guotai Junan Securities (Hong Kong) Limited and Haitong International Securities Company Limited are the Joint Bookrunners and the Joint Lead Managers. Livermore Holdings Limited, CVP Securities Limited and Zinvest Global Limited are the Joint Lead Managers. 

 

Commenting on the trading debut, Mr. GUAN Manyu, Chairman and executive Director of the Group, said, "The successful listing of the Company's shares on the Main Board of SEHK is a proof of investors' confidence in the development and future prospects of our business. We strive to capitalise on the international financing platform in Hong Kong, in order to further enhance our brand recognition and to capture greater market share in the local construction industry."


[1] In terms of revenue from building construction works for the year ended 31 December 2018


About CR Construction Group Holdings Limited

Established in 1967, the Group is one of the leading building contractors in Hong Kong with over 50 years of experience. The Group principally acts as a main contractor in building construction works and RMAA works projects across public and private sectors in Hong Kong. According to the CIC Report, it ranked the third among all main contractors in Hong Kong in terms of revenue from building construction works for the year ended 31 December 2018 with a market share of approximately 5.2%.