Introduction of shares
Main date:
Public launch closing date: November 8, 2016 at 12: 00 noon scheduled deadline: November 8, 2016
Announcement application results: November 14, 2016
Launch date: November 15, 2016
The family guarantor:
Citic Lyon coupon City Co., Ltd.
Summary of statistics:
Number of shares sold globally: 540000000 shares
Share of shares sold publicly in Hong Kong: 10.0%
Sales: HK $3.55 to HK $4.74
Estimated collection of funds: 1.917 billion to 2.56 billion Hong Kong dollars
Income per hand: HK $4787.77
A summary of the collection
The collection is the only platform for the development of environmental protection and energy services under the Datang Collection in China. Coal-fired power plants focus on the full production of environmental protection capacity, such as sulfur removal, nitrate removal, desulfurization, ash and slag removal, powder treatment, water and energy, etc., and their operational management is led by the special operation of environmental protection facilities.
According to the Sullivan report, the sulfur and nitrite consumption rates calculated according to the cumulative gross capacity by the end of 2015 are 21.6% and 38.2% respectively, ranking first in the country. At the same time, Jisheng is also the world's largest producer of flat-plate nitrite catalysis. The completed coal-fired construction projects account for 6.3 percent of the country's market, ranking third in the country.
Industry summary
According to Sullivan's report, the size of China's special market for coal-fired sulfur generation has increased from 1.4 billion yuan in 2010 to 7.3 billion yuan in 2015, with a combined annual growth rate of about 39.1 percent. The market regulation model is expected to reach 18.6 billion yuan in 2020, with a compound annual growth rate of about 20.6% from 2015 to 2020. According to Sullivan's report, the size of China's special market for coal-fired coal production has increased from 100 million yuan in 2010 to 1.7 billion yuan in 2015, with a combined annual growth rate of about 157.1 percent. The market regulation model is expected to reach 10.1 billion yuan in 2020, with a compound annual growth rate of about 42.8 percent from 2015 to 2020.
The development of the industry relies on the Chinese government's policy on pollution prevention and control, but since power generation enterprises have largely complied with the regulations issued a few years ago, the demand for specific services in pollution prevention and control cities may be less. in the future, we may benefit from foreign policies from industries such as sulfur and nitrification.
The demand for financial protection and energy services depends on the growth of China's coal-fired power generation. If China's coal-fired power generation increases and expands, the growth of the collection industry may be affected.
Valuation
According to the IPO document, as of June 30, 2016, after deducting the special dividend paid to existing shares and calculated on the basis of the 29.40 shares expected to be developed after the sale of the shares, shares should account for 4.275 billion yuan to 4.825 billion yuan in the area with an integrated tangible assets value of 4.275 billion yuan to 4.825 billion yuan. Equivalent to HK $1.67 to HK $1.88 per share after untested tangible assets. (at the exchange rate of 0.8725 yuan to HK $1.00).
