Chinese heating company Wise Living Technology opens retail books, aiming to raise HK$318 mln in HK IPO

 

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China’s cross-provincial heating service provider Wise Living Technology opens its retail books today, aiming to raise up to HK$318 million for its IPO in Hong Kong.

The firm is offering 75.6 million shares at between HK$3 and HK$4.2 apiece. It is scheduled to debut on July 10.

It’s established in 2010 by Shenzhen-listed Shuangliang Eco-Energy. Shuangliang’s founder, Miao Shuangda, and his family own nearly 90% of its shares.

Wise Living, which provides indoor heating for residential and non-residential buildings in Shanxi, Gansu and Inner Mongolia, was the fourth largest non-state-run heating company by services area in 2022 with a market share of 1.8%, it said, citing a report by Frost & Sullivan.