Longsys Technology Strategic Placement Final Subscription Falls to 1.667 Billion Shares

Longsys Technology’s final strategic placement subscription result has been released. Thirty strategic investors were initially allocated 3.344 billion shares, while their final subscription totaled 1.667 billion shares, about half of the initial allocation. According to Odaily, the market has speculated about the change, which is said to be related to common industry practice. The report said the initial allocation is often designed at the regulatory upper limit to leave room for adjustments, and Longsys Technology’s placement cap was 3.344 billion shares, or 50% of the offering, before later reallocation based on actual conditions. According to Odaily, although the final subscription volume fell, the 30 strategic investors’ actual subscription amount remained consistent with their originally committed amount of 14.437 billion yuan. The difference was transferred to the online subscription tranche, increasing the winning rate for online investors.