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joined discussion · Mar 9 07:39

IPO Pricing | UleShare goes public today with nearly 5,300 times subscription, priced at HKD 11 per share, earning HKD 1,500 per lot in the gray market

Futu Information reported on March 9th $ALSCO POOLING (02649.HK)$ Announced the allocation results, priced at HKD 11 per share, issuing a total of 20.336 million shares, with each lot containing 500 shares, officially listed today.
In the previous trading session, UROS closed up 27.27% in the gray market at HKD 14 per share, with each lot consisting of 500 shares. Excluding handling fees, a single lot generated a profit of HKD 1,500.
During the public offering phase, UROS received 5,297.23 times subscription, with the final number of publicly offered shares amounting to 2.034 million shares, accounting for approximately 10% of the total issued shares. A total of approximately 162,600 valid applications were received, with around 4,068 processed applications. The approximate percentage of shares allocated for one-lot subscriptions compared to the total applied shares was 0.04%.
Additionally, during the international placement phase, UROS received 4.20 times subscription, with the final number of internationally placed shares totaling 18.302 million shares, equivalent to 90% of the total issued shares. Futu Information has compiled relevant data in the table below:
Futu Information reported on March 9th $ALSCO POOLING (02649.HK)$ Announced the allocation results, priced at HKD 11 per share, issuing a total of 20.336 million shares, with each lot containing 500 shares, officially listed today. On the previous trading day, UleShare's gray market price closed up 27.27% at HKD 14. Each lot contains 500 shares, and without considering handling fees, one lot earns HKD 1,500. During the public offering stage, UleShare received 5,297.23 times subscription. The final number of publicly offered shares was 2.034 million shares, accounting for approximately 10% of the total number of offering shares. A total of approximately 162,600 valid applications were received, with about 4,068 applications processed. The approximate percentage of shares allocated for one-lot subscription relative to the total applied shares was 0.04%. In addition, during the international placement stage, UleShare received 4.20 times subscription. The final number of internationally placed shares was 18.302 million shares, equivalent to 90% of the total offering shares. Futu Information has compiled the relevant data as shown in the table below: Company Overview UleShare is a provider of reusable packaging services in China, primarily focusing on serving automotive parts manufacturers and OEMs within the automotive industry. The company mainly provides shared operations, a co-use model under which the company manages reusable packaging such as pallets, crates, or containers for its clients, handling storage, distribution, and return (mainly through subcontracting third parties) on behalf of the clients...
Futu Information reported on March 9th $ALSCO POOLING (02649.HK)$ Announced the allocation results, priced at HKD 11 per share, issuing a total of 20.336 million shares, with each lot containing 500 shares, officially listed today. On the previous trading day, UleShare's gray market price closed up 27.27% at HKD 14. Each lot contains 500 shares, and without considering handling fees, one lot earns HKD 1,500. During the public offering stage, UleShare received 5,297.23 times subscription. The final number of publicly offered shares was 2.034 million shares, accounting for approximately 10% of the total number of offering shares. A total of approximately 162,600 valid applications were received, with about 4,068 applications processed. The approximate percentage of shares allocated for one-lot subscription relative to the total applied shares was 0.04%. In addition, during the international placement stage, UleShare received 4.20 times subscription. The final number of internationally placed shares was 18.302 million shares, equivalent to 90% of the total offering shares. Futu Information has compiled the relevant data as shown in the table below: Company Overview UleShare is a provider of reusable packaging services in China, primarily focusing on serving automotive parts manufacturers and OEMs within the automotive industry. The company mainly provides shared operations, a co-use model under which the company manages reusable packaging such as pallets, crates, or containers for its clients, handling storage, distribution, and return (mainly through subcontracting third parties) on behalf of the clients...
Company Overview
U-Box is a Chinese provider of reusable packaging services, primarily focusing on serving automotive parts manufacturers and OEMs in the automobile industry. The company mainly offers shared operations, which is a shared model where it manages reusable packaging such as pallets, crates, or containers on behalf of clients. It handles storage, distribution, returns (mainly through subcontracted third-party logistics service providers), cleaning, and maintenance of the reusable packaging on behalf of customers.
The company operates two core business segments: container services and container sales, with the majority of revenue coming from shared operation services within the container services segment. Container services are at the heart of the company's operations, encompassing shared operation services, leasing services, and other value-added services. Shared operation services provide comprehensive solutions for standardized reusable containers, covering design, distribution, recycling, and maintenance. Customers can borrow and return containers on demand and flexibly use different locations for pickup and delivery while the company manages all container operations through warehousing.
On the other hand, leasing services offer fixed-term leases, where the company provides the containers, and customers manage their own logistics operations. The company also offers other value-added services such as logistics transportation, warehouse management, and customer-owned container management to meet diverse customer needs.
Source: Prospectus
Source: Prospectus
Financial Overview
The shared revenue of UleShare increased from RMB 647.6 million for the year ended December 31, 2022, to RMB 794.0 million for the year ended December 31, 2023, and further increased to RMB 837.6 million for the year ended December 31, 2024, representing a compound annual growth rate of 13.7%. The company's gross profit increased from RMB 127.4 million for the year ended December 31, 2022, to RMB 169.9 million for the year ended December 31, 2023, and further increased to RMB 184.1 million for the year ended December 31, 2024, representing a compound annual growth rate of 20.2%.
Source: Prospectus
Source: Prospectus
Use of Proceeds
In terms of funding use, UROS expects net proceeds from the global offering to be approximately HKD 176 million (based on an offer price of HKD 11). According to the prospectus, UROS plans to allocate the proceeds from the global offering for the following purposes:
Approximately 25% will be used to enhance and upgrade digital systems and platforms; approximately 25% will be used to advance the company’s overseas expansion strategy; approximately 20% will be used to expand the company's service network nationwide; approximately 20% will be used to broaden the application scenarios of the company’s services to other downstream industries through acquisitions; and approximately 10% will be used for general corporate purposes and working capital.
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Futu Information reported on March 9th $ALSCO POOLING (02649.HK)$ Announced the allocation results, priced at HKD 11 per share, issuing a total of 20.336 million shares, with each lot containing 500 shares, officially listed today. On the previous trading day, UleShare's gray market price closed up 27.27% at HKD 14. Each lot contains 500 shares, and without considering handling fees, one lot earns HKD 1,500. During the public offering stage, UleShare received 5,297.23 times subscription. The final number of publicly offered shares was 2.034 million shares, accounting for approximately 10% of the total number of offering shares. A total of approximately 162,600 valid applications were received, with about 4,068 applications processed. The approximate percentage of shares allocated for one-lot subscription relative to the total applied shares was 0.04%. In addition, during the international placement stage, UleShare received 4.20 times subscription. The final number of internationally placed shares was 18.302 million shares, equivalent to 90% of the total offering shares. Futu Information has compiled the relevant data as shown in the table below: Company Overview UleShare is a provider of reusable packaging services in China, primarily focusing on serving automotive parts manufacturers and OEMs within the automotive industry. The company mainly provides shared operations, a co-use model under which the company manages reusable packaging such as pallets, crates, or containers for its clients, handling storage, distribution, and return (mainly through subcontracting third parties) on behalf of the clients...
Editor/Joe
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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