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joined discussion · Sep 29 08:20

IPO Pricing | Kingboard Laminates Holdings lists today, achieving a 94.25x subscription rate, priced at the upper limit of HK$69.88 per share

Futu News, September 29, $KINWONG (03228.HK)$ Announcement of allotment results: The offer price is set at HK$69.88 per share, with a total issuance of 72.9443 million shares. Each lot consists of 100 shares, and the stock officially lists today.
During the public offering phase, Kingboard Laminates Holdings received subscriptions 94.25 times the available shares. The final number of shares offered publicly was 7.2945 million, accounting for approximately 10.00% of the total offering. A total of approximately 61,273 valid applications were received, with about 17,090 applications accepted. The approximate percentage of allocated shares for one-lot applicants relative to the total shares applied for is 3.00%.
Additionally, during the international placement phase, Kingboard Laminates Holdings achieved a 10.57x subscription rate. The final number of internationally placed shares was 65.6498 million, equivalent to 90.00% of the total offering. Futu has compiled the relevant data in the table below:
Futu News, September 29, $KINWONG (03228.HK)$ Announcement of allotment results: The offer price is set at HK$69.88 per share, with a total issuance of 72.9443 million shares. Each lot consists of 100 shares, and the stock officially lists today. During the public offering phase, Kingboard Laminates Holdings received subscriptions 94.25 times the available shares. The final number of shares offered publicly was 7.2945 million, accounting for approximately 10.00% of the total offering. A total of approximately 61,273 valid applications were received, with about 17,090 applications accepted. The approximate percentage of allocated shares for one-lot applicants relative to the total shares applied for is 3.00%. Additionally, during the international placement phase, Kingboard Laminates Holdings achieved a 10.57x subscription rate. The final number of internationally placed shares was 65.6498 million, equivalent to 90.00% of the total offering. Futu has compiled the relevant data in the table below: Company Overview Kinwong Electronics is a globally renowned PCB manufacturer driven by technological innovation and characterized by a comprehensive product layout. The company holds a leading global position in the automotive electronics PCB sector and has strategically focused on the AI computing field, forming a "1+1+N" business model: one pillar business (automotive electronics) ("1"), one key growth business (communications and data infrastructure) ("1"), and N high-potential business portfolios (covering smart devices, industrial control, etc.) ("N"). The company possesses a comprehensive PCB...
Futu News, September 29, $KINWONG (03228.HK)$ Announcement of allotment results: The offer price is set at HK$69.88 per share, with a total issuance of 72.9443 million shares. Each lot consists of 100 shares, and the stock officially lists today. During the public offering phase, Kingboard Laminates Holdings received subscriptions 94.25 times the available shares. The final number of shares offered publicly was 7.2945 million, accounting for approximately 10.00% of the total offering. A total of approximately 61,273 valid applications were received, with about 17,090 applications accepted. The approximate percentage of allocated shares for one-lot applicants relative to the total shares applied for is 3.00%. Additionally, during the international placement phase, Kingboard Laminates Holdings achieved a 10.57x subscription rate. The final number of internationally placed shares was 65.6498 million, equivalent to 90.00% of the total offering. Futu has compiled the relevant data in the table below: Company Overview Kinwong Electronics is a globally renowned PCB manufacturer driven by technological innovation and characterized by a comprehensive product layout. The company holds a leading global position in the automotive electronics PCB sector and has strategically focused on the AI computing field, forming a "1+1+N" business model: one pillar business (automotive electronics) ("1"), one key growth business (communications and data infrastructure) ("1"), and N high-potential business portfolios (covering smart devices, industrial control, etc.) ("N"). The company possesses a comprehensive PCB...
Company Overview
Kinwong Electronics is a globally renowned PCB manufacturer driven by technological innovation and characterized by a comprehensive product layout. The company holds a leading global position in the automotive electronics PCB sector and has strategically focused on the AI computing field, forming a "1+1+N" business model: one pillar business (automotive electronics) ("1"), one key growth business (communications and data infrastructure) ("1"), and N high-potential business portfolios (covering smart devices, industrial control, etc.) ("N").
The company boasts a comprehensive PCB product portfolio, capable of manufacturing and providing single- and double-sided PCBs, multilayer PCBs, HDI PCBs, FPCs, metal-core PCBs ("MPCB"), and rigid-flex boards. This extensive product range allows the company to enter customers' supply chains through specific products and deepen partnerships via cross-selling. The diversified product matrix enables the company to meet existing customers' PCB needs for new product development while serving new clients across industries, thereby capturing business opportunities in a wide range of application areas.
Financial Overview
Kinwong Electronics achieved rapid revenue and profit growth in 2023, 2024, and 2025. In 2023, 2024, and 2025, the company's revenues were RMB 10,757.3 million, RMB 12,659.4 million, and RMB 15,308.1 million, respectively.
The Company's gross profit for 2023, 2024, and 2025 was RMB 2,492.3 million, RMB 2,877.7 million, and RMB 3,304.9 million, respectively, while its gross profit margins were 23.2%, 22.7%, and 21.6%, respectively. The Company's profit for the year amounted to RMB 911.0 million, RMB 1,160.2 million, and RMB 1,244.0 million in 2023, 2024, and 2025, respectively.
Futu News, September 29, $KINWONG (03228.HK)$ Announcement of allotment results: The offer price is set at HK$69.88 per share, with a total issuance of 72.9443 million shares. Each lot consists of 100 shares, and the stock officially lists today. During the public offering phase, Kingboard Laminates Holdings received subscriptions 94.25 times the available shares. The final number of shares offered publicly was 7.2945 million, accounting for approximately 10.00% of the total offering. A total of approximately 61,273 valid applications were received, with about 17,090 applications accepted. The approximate percentage of allocated shares for one-lot applicants relative to the total shares applied for is 3.00%. Additionally, during the international placement phase, Kingboard Laminates Holdings achieved a 10.57x subscription rate. The final number of internationally placed shares was 65.6498 million, equivalent to 90.00% of the total offering. Futu has compiled the relevant data in the table below: Company Overview Kinwong Electronics is a globally renowned PCB manufacturer driven by technological innovation and characterized by a comprehensive product layout. The company holds a leading global position in the automotive electronics PCB sector and has strategically focused on the AI computing field, forming a "1+1+N" business model: one pillar business (automotive electronics) ("1"), one key growth business (communications and data infrastructure) ("1"), and N high-potential business portfolios (covering smart devices, industrial control, etc.) ("N"). The company possesses a comprehensive PCB...
Source: Prospectus
Source: Prospectus
Use of Proceeds
Regarding the use of proceeds, the net proceeds from Kingboard Laminates Holdings' global offering amount to approximately HK$4.961 billion (calculated based on an offer price of HK$69.88). According to the prospectus, the company intends to utilize the funds raised from the global offering for the following purposes:
Approximately 60% will be used to expand and upgrade the production capacity for the Company's high value-added products to meet AI-driven demand and enhance overall production capabilities; approximately 15% will be allocated to strengthening R&D and technological reserves in the field of next-generation electronic information technology; approximately 15% will be used to repay certain existing interest-bearing bank borrowings; and approximately 10% will be designated for working capital and other general corporate purposes.
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Futu News, September 29, $KINWONG (03228.HK)$ Announcement of allotment results: The offer price is set at HK$69.88 per share, with a total issuance of 72.9443 million shares. Each lot consists of 100 shares, and the stock officially lists today. During the public offering phase, Kingboard Laminates Holdings received subscriptions 94.25 times the available shares. The final number of shares offered publicly was 7.2945 million, accounting for approximately 10.00% of the total offering. A total of approximately 61,273 valid applications were received, with about 17,090 applications accepted. The approximate percentage of allocated shares for one-lot applicants relative to the total shares applied for is 3.00%. Additionally, during the international placement phase, Kingboard Laminates Holdings achieved a 10.57x subscription rate. The final number of internationally placed shares was 65.6498 million, equivalent to 90.00% of the total offering. Futu has compiled the relevant data in the table below: Company Overview Kinwong Electronics is a globally renowned PCB manufacturer driven by technological innovation and characterized by a comprehensive product layout. The company holds a leading global position in the automotive electronics PCB sector and has strategically focused on the AI computing field, forming a "1+1+N" business model: one pillar business (automotive electronics) ("1"), one key growth business (communications and data infrastructure) ("1"), and N high-potential business portfolios (covering smart devices, industrial control, etc.) ("N"). The company possesses a comprehensive PCB...
Edited by/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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