share_log

资本邦境外IPO周报 | 亿腾医药二闯港交所,另类资产管理巨头TPG拟赴美IPO

Capital State Overseas IPO Weekly Report | Yiteng Pharmaceutical breaks into the Hong Kong Stock Exchange and alternative asset management giant TPG plans to go to the US for an IPO

資本邦 ·  Dec 21, 2021 15:05

Last week (December 13-December 19), five companies listed on Hong Kong stocks and six companies listed on US stocks.

During this period, one company was heard through the Hong Kong Stock Exchange.

In terms of table delivery, last week, four companies submitted their forms to the US Securities Regulatory Commission and five companies to the Hong Kong Stock Exchange. The following is the full list:

I. list of Hong Kong stocks listed on the first day of Shun Fung's listing in the same city

Last week, five companies landed on the main board of the Hong Kong Stock Exchange, specifically for Yonghe Medical, Shun Feng City, Cornette Optics, celadon games, and German industrial investment services.

According to the first level of GICS industry classification, there are two health care companies, one industrial company, one communication service company and one real estate company.

Shunfeng broke on the first day of listing in the same city, BABA was the cornerstone investor

On December 14, SF listed its shares in Hong Kong, opening at HK $15.2, falling below its offering price of HK $16.42. At the close of the day, SF shares were down 9.26% on their first day of trading at US $15.2. In the dark trading on the eve of listing, Shun Feng also suffered a break in the same city, with an intraday amplitude of more than 10%.

The cornerstone investors in the same city of Shun Feng are Hello Travel and Taobao owned by BABA. Based on the offering price of HK $16.42 per share, cornerstone investors have subscribed for a total of 54 million shares, equivalent to about 41.32 per cent of the 131 million shares sold in the same city and 5.81 per cent of the shares issued by the company after the completion of the global offering.

Assuming that the over-allotment option is not exercised, after the listing is completed, BABA and Hello Travel will hold 5.55% and 0.25% of the shares in Shun Feng Tongcheng, respectively.

According to the hearing materials, Shun Fung City was originally a business department of SF Holdings Group, focusing on seizing the emerging business opportunities of real-time distribution services in the city. Since 2019, the company has realized independent and corporate operations to take advantage of the growth opportunities brought about by new consumption trends.

Financially, the company's revenue in 2018, 2019 and 2020 and the five months ended May 31, 2021 was (RMB, the same below) 993 million yuan, 2.107 billion yuan, 4.843 billion yuan and 3.046 billion yuan respectively; the net losses in the same period were 328 million yuan, 470 million yuan, 758 million yuan and 353 million yuan respectively.

II. Hong Kong Stock Exchange and IPO: Quanfeng Holdings plans to be listed on December 30, with a net profit of US $91.239 million in the first half of this year.

Last week, two companies, Quanfeng Holdings and Bori Technology, passed the hearing. In addition, Bai Xin an and Quanfeng Holdings started the IPO, and at present Bai Xin an has finished its IPO.

Quanfeng Holdings plans to go public on December 30th, with a net profit of US $91.239 million in the first half of this year.

Quanfeng Holdings passed the hearing on December 14 and launched an initial public offering in Hong Kong on December 17.

The company plans to issue 71.916 million shares, with 10 per cent of Hong Kong public offerings, 90 per cent of international placements and 15 per cent of over-allotment rights. HK $37.6-43.6 per offer share, 100 shares per share, and the expected listing date is December 30, 2021.

As of 14:20 on December 21, Quanfeng Holdings had a subscription ratio of 0.8 times and margin capital of HK $251 million, according to Washington Tong.

Information shows that Quanfeng Holdings is a global supplier of power tools and outdoor power equipment ("OPE"), with a particular focus on innovation in the field of lithium battery system technology. According to the Frost Sullivan report, the company ranked 13th in the global power tools and OPE market by revenue in 2020, with a market share of about 1.9%.

As of September 30, 2011Quanfeng (China) Investment Co., Ltd., a wholly-owned subsidiary of the company, owns about 23.12% of Quanfeng Automobile (603982.SH), which was listed on the Shanghai Stock Exchange on May 22nd, 2019. Quanfeng Automobile, Quanfeng Holdings is actually controlled by Pan Longquan.

Financially, the company's revenue increased from $691 million in 2018 to $1.201 billion in 2020, a compound annual growth rate of 31.9%, and an increase of 68.9% from $514 million in the six months ended June 30, 2020 to $869 million in the six months ended June 30, 2021.

Meanwhile, the company recorded a net loss of $13.457 million in 2018, a net profit of $36.082 million in 2019 and a net profit of $48.388 million in 2020. In addition, the company's profit increased significantly from $20.491 million for the six months ended June 30, 2020 to $91.239 million for the six months ended June 30, 2021.

III. List of Hong Kong stock listings: Yiteng Pharmaceuticals second submission form HKEx

Last week, a total of five companies submitted prospectuses to the Hong Kong Stock Exchange, of which four planned to land on the main board and one on the gem.

According to industry classification, according to GICS industry classification level, among the five companies that submitted the list last week, there were two health care companies, one communications service company, one energy company and one utility company.

Yiteng Pharmaceutical once again submitted to the Hong Kong Stock Exchange, the revenue mainly comes from core commercial products.

On December 15, Yiteng Pharmaceutical submitted a prospectus to the Hong Kong Stock Exchange for listing on Hong Kong's main board IPO. The company previously submitted two prospectuses on September 23, 2020 and March 29, 2021, and then went through the hearing of the Hong Kong Stock Exchange on June 25, 2021.

According to the prospectus, Yiteng Pharmaceutical is a Chinese integrated pharmaceutical company with a strategic focus on anti-infection, cardiovascular disease and respiratory system.

The company's income mainly comes from drug sales. Secondly, the company also provides product marketing and promotion services to a number of pharmaceutical companies and charges for these services. In the past four financial years of 2017, 2018, 2019, 2020 and the first half of 2021, the operating income of Yiteng Pharmaceutical was 1.787 billion yuan (RMB, the same below), 1.478 billion yuan, 1.875 billion yuan, 1.768 billion yuan and 853 million yuan respectively, and the corresponding net profit was-38.538 million yuan,-215 million yuan, 173 million yuan, 86.939 million yuan and 26943 million yuan respectively.

It is worth noting that during the operating record period, the company generally relied on and derived mainly from core commercial products. For the years ended 31 December 2017, 2018, 2019 and 2020 and the six months ended 30 June 2020 and 2021, the total revenue of these products was 1.26 billion yuan, 1.04 billion yuan, 1.007 billion yuan, 1.588 billion yuan, 531 million yuan and 647 million yuan, accounting for 70.5%, 70.4%, 53.7%, 89.8%, 89.2% and 75.9% of the company's total revenue in the same period, respectively.

IV. Us stock listing list: industrial Internet of things and fleet management unicorn Samsara closed up 7.39% on its first day of listing.

Last week, the US stock market welcomed the successful listing of six companies.

According to the first level of GICS industry classification, there are 3 health care companies, 1 daily consumer goods industry company and 2 information technology companies.

In terms of IPO issuance, Bionomics Limited, a clinical biopharmaceutical company, has the highest IPO offering price of US $12.35 and raises US $20 million, while Industrial Internet of things and fleet management unicorn Samsara has the highest fund-raising price of US $805 million and IPO US $23.

Among the six newly listed companies, the Sidus Space of startups rose the most in terms of the closing price of the shares on the first day of listing, up 143.8% from the offering price, and the closing price was $12.19.

Industrial Internet of things and fleet management unicorn Samsara landed on the New York Stock Exchange and closed up 7.39% on its first day of trading.

Samsara (IOT.US), an industrial Internet of things and fleet management unicorn, launched on the New York Stock Exchange at $23 and closed up 7.39% on its first day of trading.

Samsara opened high at $24.90 on its first day of trading, then fluctuated down, peaking at $25.25. It closed at US $24.7, up 7.39%.

Samsara, founded in 2015, is a SaaS cloud technology company specializing in fleet system management and physical operations, probing the operation of enterprise physical assets and aggregating operational data into the cloud computing platform, according to the prospectus.

Samsara serves clients including wholesale and retail trade, construction, on-site services, logistics, utilities and energy, health care and education, manufacturing and catering.

For the nine months ended October 30, 2021, revenue was $303 million, compared with $174 million in the same period last year, and a net loss of $102 million, compared with a net loss of $174 million in the same period last year.

The queuing list of US stocks: alternative asset management giant TPG submitted a prospectus

Four companies submitted prospectuses to the Securities and Exchange Commission last week.

According to the GICS industry classification level, of the four companies submitting the table, there are two health care companies, and the other two companies are from the financial and information technology industries.

Alternative asset management giant TPG submitted a prospectus with assets under management of more than 100 billion US dollars.

TPG, an alternative asset manager, filed a prospectus with the Securities and Futures Commission on December 16, applying for listing on NASDAQ under the ticker symbol "TPG." The company's IPO underwriters include JPMorgan Chase & Co, Goldman Sachs Group, Morgan Stanley and other 23 investment bank securities firms.

TPG, formerly known as Texas Pacific Investment, was founded in 1992 and invests mainly in non-traditional and complex asset classes, such as private equity, real estate and public market strategies. The current business segment includes private equity (Capital), growth investment (Growth), influence investment (Impact), real estate (Real Estate) and market solutions (Market Solutions).

According to the prospectus, as of September 30, 2021, the scale of management of the above platforms was $52.6 billion, $22.1 billion, $12.6 billion, $11.5 billion and $10.3 billion, respectively.

As of September 30, 2021, the company has assets under management of US $109 billion, has 912 employees and has more than 280 companies in its portfolio in 30 countries around the world.

Financially, in the first three quarters of this year, total revenue was $3.897 billion, compared with $564 million in the same period last year, and net profit was $3.822 billion, compared with $295 million in the same period last year. In 2020, the company had total revenue of $2.115 billion and a net profit of $1.439 billion.

VI. Outlook for new shares this week: Bai Xin an will land in Hong Kong stocks

As of 12:00 Beijing time, only hydrogel supplier NexGel is expected to enter the US stock market this week (December 20-December 26). One company is listed in Hong Kong shares. The following is the full list:

The translation is provided by third-party software.


The above content is for informational or educational purposes only and does not constitute any investment advice related to Futu. Although we strive to ensure the truthfulness, accuracy, and originality of all such content, we cannot guarantee it.
    Write a comment