环龙控股公布配售结果，你中签了吗？快来晒单吧！
IPO Pricing | Huanlong Holdings received 13.66 times oversubscription, priced at HKD 1.22 per share.
Futu News, January 10th, this Monday$VANOV HOLDINGS (02260.HK)$announced that the company will issue approximately 0.114 billion shares at a price of HKD 1.22 per share, with a lot size of 2,000 shares, expected to be listed on January 11th.
During the public offering stage, Huanlong Holdings received an oversubscription of approximately 13.66 times. The final number of shares allocated to the public offering is 11.42 million, accounting for 10% of the total number of shares offered (before the exercise of any over-allotment option). A total of 9,220 valid applications were received, with a pro-rata rate of 15.01% for one lot, and a subscription rate of one hand in 20 lots.
In addition, the international offering has been oversubscribed, and the final number of shares offered is approximately 0.103 billion, equivalent to 90% of the total number of shares offered (before the exercise of any over-allotment option). The relevant data compiled by Futu News is shown in the table below:
In terms of fundraising purposes, the net proceeds of approximately 0.0928 billion Hong Kong dollars will be used for the following purposes: about 40% for the purchase of machinery to upgrade the production capacity of the second phase of the shanghai and chengdu production bases; about 20% will be used to strengthen the company's research and development capabilities; about 10% will be used for strategic acquisitions; about 20% will be used to repay outstanding bank loans to reduce the company's debt; about 10% will be used for working capital and other general corporate purposes.
It is reported that Enviro Dragon Holdings is mainly engaged in the design, manufacturing, and sales of papermaking blankets. According to a Frost & Sullivan report, in 2020, the company ranked fourth among leading papermaking blanket manufacturers in China in terms of revenue, with a market share of approximately 5.8%.
The company provides comprehensive papermaking blanket services to customers, from on-site inspections, providing advice to customers on the types and specifications of papermaking blankets, to sourcing suitable raw materials for production, conducting quality control, delivering papermaking blankets to customers, and providing after-sales service.
In terms of financial data, from 2018 to 2020, the company achieved revenues of 0.159 billion yuan, 0.167 billion yuan, and 0.183 billion yuan respectively, with a compound annual growth rate of 7.1%; during the same period, it recorded net profits of 37.206 million yuan, 35.077 million yuan, and 4101.3 million yuan, with a compound annual growth rate of 5.0%.
In the first half of 2021, the company recorded a total income of 76.515 million yuan, an increase of 15.6% year-on-year; during the same period, the net profit was 14.286 million yuan, an increase of 24.1% year-on-year.
In terms of the industry, the sales of papermaking blankets have grown rapidly since 2016, driven by the expected growth in domestic paper production and strong demand for papermaking blankets in Southeast Asia. With improved product quality, the compound annual growth rate of papermaking blankets will remain at 6.3% from 2021 to 2025.
The sales value of papermaking blankets in China increased from approximately 21.899 billion yuan in 2016 to approximately 31.661 billion yuan in 2020, with a compound annual growth rate of approximately 9.7%. With local papermaking blanket manufacturers continuously expanding the production of high-speed papermaking blankets, it is expected that the sales value of papermaking blankets will grow at a compound annual growth rate of approximately 7.6% from 2021 to 2025.
Risk Disclaimer: The above content only represents the author's view. It does not represent any position or investment advice of Futu. Futu makes no representation or warranty.Read more
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