English
Back
Open Account
美因基因公佈配售結果，你中籤了嗎？
牛牛新股君
joined discussion · Jun 21, 2022 08:32

IPO Pricing | Meiyin Gene secures 9.62x subscription, priced at HKD 18 per share

Futu News reported on June 21, this Tuesday$MYGene (06667.HK)$An announcement was made regarding the issuance of 11.9618 million shares at a price of HKD 18 per share, with each lot comprising 200 shares. The company is expected to be listed on June 22.
During the public offering stage, MYGene received approximately 9.62 times subscription coverage. The final number of shares allocated to the public offering was 1.1962 million, accounting for approximately 10% of the total offering (prior to any exercise of the over-allotment option). A total of 9,206 valid applications were received,
Additionally, the international offering was oversubscribed. The final number of shares in the international offering was 10.7656 million, equivalent to approximately 90% of the total offering (prior to any exercise of the over-allotment option). Futu Information has compiled relevant data in the table below:
Futu News reported on June 21, this Tuesday$Meiyin Gene (06667.HK)$Announced that the company is issuing 11.9618 million shares at HKD 18 per share, with each lot consisting of 200 shares, and is expected to be listed on June 22. During the public offering phase, Meiyin Gene received approximately 9.62 times the subscription. The final number of shares allocated to the public offering was 1.1962 million shares, accounting for approximately 10% of the total offering (before any exercise of the over-allotment option). A total of 9,206 valid applications were received, In addition, the international offering was oversubscribed, with the final number of shares offered being 10.7656 million shares, equivalent to approximately 90% of the total offering (before any exercise of the over-allotment option). Futu News has compiled the relevant data in the table below: At the issue price of HKD 18.00 per share, the net proceeds from the global offering are estimated to be approximately HKD 153.4 million (assuming no exercise of the over-allotment option) and will be used for the following purposes: (i) Approximately 30% for sales, marketing, and commercialization of consumer-grade genetic testing and cancer screening services and products. (ii) Approximately 25% will be invested in research and development services and products. (iii) Approximately 20% will be used to increase or expand testing capabilities and capacity. (iv) Approximately 15% will be used to invest in or acquire attractive technology or testing-related companies that are complementary and synergistic to the company's existing business. (v) Approximately 10% will be used for working capital and other purposes. Meiyin Gene is a leading gene testing platform in China...
At the issue price of HKD 18.00 per share, the net proceeds from the global offering are expected to amount to approximately HKD 153.4 million (assuming no exercise of the over-allotment option) and will be used for the following purposes: (i) approximately 30% for sales, marketing, and commercialization of consumer genetic testing and cancer screening services and products; (ii) approximately 25% will be invested in research and development of services and products; (iii) approximately 20% will be used to increase or expand testing capabilities and capacity; (iv) approximately 15% for investments in or acquisitions of attractive technology or testing-related companies that complement and synergize with the company’s existing business; (v) approximately 10% for working capital and other purposes.
MYGene is a leading gene testing platform company in China, specializing in consumer genetic testing and cancer screening services. According to Frost & Sullivan, the company is the largest consumer genetic testing platform in China. In terms of the number of tests conducted in 2020, its market share exceeded 60%, with testing volumes more than ten times higher than the second-largest player. In terms of revenue for the same year, its market share was 34.2%, ranking first in China and surpassing the combined total of the second to sixth players.
As of December 31, 2021, since its establishment in 2016, the company has conducted over 12 million genetic tests, averaging more than 246,000 tests per month in 2021.
According to Frost & Sullivan, in terms of the number of tests conducted in 2020, the company is the largest cancer screening genetic testing platform in China. In the cancer screening market, as of December 31, 2021, it is the only company that has cumulatively implemented over 453,000 tests. Additionally, in 2020, its cancer screening services recorded a gross margin of 80.5%, both of which significantly exceed the average levels of the Chinese industry in 2020.
In financial terms, during 2019–2021, the company generated total revenues of RMB 124 million, RMB 203 million, and RMB 237 million, respectively. During the same periods, the company recorded net profits of RMB 30 million, RMB 79 million, and RMB 79 million, as well as gross profits of RMB 78 million, RMB 146 million, and RMB 167 million, respectively.
Futu News reported on June 21, this Tuesday$Meiyin Gene (06667.HK)$Announced that the company is issuing 11.9618 million shares at HKD 18 per share, with each lot consisting of 200 shares, and is expected to be listed on June 22. During the public offering phase, Meiyin Gene received approximately 9.62 times the subscription. The final number of shares allocated to the public offering was 1.1962 million shares, accounting for approximately 10% of the total offering (before any exercise of the over-allotment option). A total of 9,206 valid applications were received, In addition, the international offering was oversubscribed, with the final number of shares offered being 10.7656 million shares, equivalent to approximately 90% of the total offering (before any exercise of the over-allotment option). Futu News has compiled the relevant data in the table below: At the issue price of HKD 18.00 per share, the net proceeds from the global offering are estimated to be approximately HKD 153.4 million (assuming no exercise of the over-allotment option) and will be used for the following purposes: (i) Approximately 30% for sales, marketing, and commercialization of consumer-grade genetic testing and cancer screening services and products. (ii) Approximately 25% will be invested in research and development services and products. (iii) Approximately 20% will be used to increase or expand testing capabilities and capacity. (iv) Approximately 15% will be used to invest in or acquire attractive technology or testing-related companies that are complementary and synergistic to the company's existing business. (v) Approximately 10% will be used for working capital and other purposes. Meiyin Gene is a leading gene testing platform in China...
In terms of the industry, according to Frost & Sullivan, the scale of China's consumer genetic testing market reached USD 68.5 million in 2020. It is expected to grow to USD 445.1 million by 2025, with a compound annual growth rate (CAGR) of 45.4% from 2020 to 2025 and 42.4% from 2025 to 2030, far exceeding the growth rate of the U.S. market.
Futu News reported on June 21, this Tuesday$Meiyin Gene (06667.HK)$Announced that the company is issuing 11.9618 million shares at HKD 18 per share, with each lot consisting of 200 shares, and is expected to be listed on June 22. During the public offering phase, Meiyin Gene received approximately 9.62 times the subscription. The final number of shares allocated to the public offering was 1.1962 million shares, accounting for approximately 10% of the total offering (before any exercise of the over-allotment option). A total of 9,206 valid applications were received, In addition, the international offering was oversubscribed, with the final number of shares offered being 10.7656 million shares, equivalent to approximately 90% of the total offering (before any exercise of the over-allotment option). Futu News has compiled the relevant data in the table below: At the issue price of HKD 18.00 per share, the net proceeds from the global offering are estimated to be approximately HKD 153.4 million (assuming no exercise of the over-allotment option) and will be used for the following purposes: (i) Approximately 30% for sales, marketing, and commercialization of consumer-grade genetic testing and cancer screening services and products. (ii) Approximately 25% will be invested in research and development services and products. (iii) Approximately 20% will be used to increase or expand testing capabilities and capacity. (iv) Approximately 15% will be used to invest in or acquire attractive technology or testing-related companies that are complementary and synergistic to the company's existing business. (v) Approximately 10% will be used for working capital and other purposes. Meiyin Gene is a leading gene testing platform in China...
In the field of cancer screening, the top five cancers in China’s cancer screening market include stomach cancer, colorectal cancer, lung cancer, breast cancer, and liver cancer. In 2020, the combined cancer screening market size for these five types of cancer reached RMB 8.8 billion.
Further Reading:Infographic | Meiyin Gene, China’s Leading Genetic Testing and Cancer Screening Company
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
Heart
1
Thumbs Up
4
33K Views
Report
Comments
Write a Comment...
5
3