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DELTON

01989 · HKEX
Listed

The company is a global leading manufacturer of key PCB components for computing power servers, mainly engaged in the R&D, production, and sales of customized PCBs applied in computing power servers a…

Listed

IPO Timeline

  1. OpenMar 12
  2. CloseMar 16
  3. AllotmentMar 18
  4. PaymentMar 20
  5. ListingMar 20

Key Facts

Issue Price

HKD 71.88

Min Entry Fee

HKD 7,260.48

Shares Issued

0.47M

Lot Size

100

Total Raise

HKD 33.8M

Estimated Market Cap

Public Allocation

10.0%

International Placement

90.0%

Business Overview

The company is a global leading manufacturer of key PCB components for computing power servers, mainly engaged in the R&D, production, and sales of customized PCBs applied in computing power servers and other computing power scenarios.

Use of Proceeds

1) Approximately 19.7%, or HK$625.8 million (equivalent to approximately RMB 552.8 million), is expected to be used for the procurement and installation of advanced production equipment, as well as optimizing the production processes and product quality of Phase II of the Thailand base focusing on PCB for computing power server scenarios, thereby enhancing production capacity; 2) Approximately 52.1%, or HK$1,655.1 million (equivalent to approximately RMB 1,461.9 million), is expected to be used for expanding and upgrading production facilities at the Guangzhou base, especially the capacity for HDI PCB; 3) Approximately 10.0%, or HK$317.5 million (equivalent to approximately RMB 280.5 million), is expected to be used to enhance R&D capabilities in material technology development, production process improvement, and product development; 4) Approximately 8.2%, or HK$259.3 million (equivalent to approximately RMB 229.1 million), is expected to be used for seeking strategic partnerships, investments, or acquisitions that are business-complementary and aligned with development strategies; 5) Approximately 10.0%, or HK$317.5 million (equivalent to approximately RMB 280.5 million), is expected to be used as working capital and for general corporate purposes.

Sponsor Track Record

NamePast DealsFirst Day Avg %Break Rate %30-Day Avg %
中金香港2812.421.48.6
中信里昂199.726.35.1
建银国际146.235.71.8

Baseline updated: 2026-04-15

Intermediaries & Documents

Sponsors

  • 中信证券(香港)有限公司
  • The Hongkong and Shanghai Banking Corpora

Underwriters

  • CLSA Limited
  • The Hongkong and Shanghai Banking Corporaation Limited
  • GF Securities (Hong Kong) Brokerage Limited
  • Huatai Financial Holdings (Hong Kong) Limited
  • 国联证券国际资本市场有限公司

Prospectus PDF

Prospectus PDF

Cornerstone Investors

  • UBS Asset Management (Singapore) Ltd.
  • 惠理基金管理香港有限公司
  • 景林资产管理香港有限公司
  • CPE基金
  • Eastspring Investments (Singapore) Limited
  • 大湾区共同家园投资有限公司
  • 国泰君安证券投资(香港)有限公司
  • 工银理财有限责任公司
  • MY Asian Opportunities Master Fund, L.P.
  • 霸菱资产管理(亚洲)有限公司
  • 大家人寿保险股份有限公司
  • 上海景林及中信证券国际资本管理有限公司

Total

0

45.0% of placement

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