Huafang Quantitative, Backed by Liang Wenfeng, Bids for Changxin Technology IPO at 8.78 Yuan per Share

According to Tencent News, Huafang Quantitative, a private fund manager controlled by Liang Wenfeng, has submitted bids to participate in Changxin Technology's initial public offering at an estimated subscription price of 8.78 yuan per share. The hedge fund, comprising Zhejiang Jiuzhang and Ningbo Huafang Quantitative, is bidding for up to 230 million shares per fund product, with most products clustered between 70 million to 140 million shares.

Changxin Technology's IPO has drawn participation from national-level long-term investors including the National Social Security Fund and Basic Pension Insurance Fund, as well as supply chain leaders and major insurers. Strategic subscribers received allocations of approximately 158 million yuan each, with lock-up periods ranging from 18 to 36 months. Liang Wenfeng holds 85% and 85.15% stakes in Zhejiang Jiuzhang and Ningbo Huafang Quantitative respectively, both registered with the Asset Management Association of China.