Futu News, July 7, this Thursday $LUSHANGSERVICES (02376.HK)$According to the announcement, the company will issue 33.34 million shares, priced at HK$5.92 per share, and 500 shares per lot. It is expected to be listed on July 8.
During the public sale phase, Lushang Service was subscribed 7.39 times, and the final number of shares distributed to the public sale was 3.334 million shares, accounting for about 10% of the total number of shares offered (before any over-allotment rights were exercised). A total of 8,437 valid applications were received, with a first-hand winning rate of 33%.
Furthermore, the international offering has been oversubscribed. The final number of shares offered was 3.06 million shares, which is equivalent to about 90% of the total number of shares offered (before any overallotment rights are exercised). Futu Information collates relevant data in the following table:
Lushang Service is a comprehensive property management service provider with a leading market position in Shandong Province. Currently, its business scope covers almost all prefecture-level cities in Shandong Province, as well as Beijing and Harbin.
According to data from the China Index Institute, the company ranked 14th in overall strength among the top 100 property service enterprises in China in 2022. In terms of the floor area under management, the company's market share among the top 100 property service enterprises in China is 0.16%, and the market share in Shandong Province is 1%.
In terms of financial situation, the company's revenue for the fiscal year 2019-2021 was RMB 321 million, RMB 403 million and RMB 583 million respectively, with a CAGR of 34.7%. Net profit for the same period...