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昂利康(002940)新股网下询价策略

國元證券 ·  Sep 27, 2018 00:00  · Researches

On September 28, 2018, Onlikon launched an offline quotation inquiry. Onlikon did not transfer old shares. According to the estimated capital raised, issuance fees and issuance volume disclosed in the prospectus, the estimated issuance price is 23.07 yuan, corresponding to a price-earnings ratio of 22.99 times, which is lower than the monthly average price-earnings ratio of 30.26 times the pharmaceutical manufacturing industry, and below the red line of 23 times the price-earnings ratio. Market capitalization requirements: Investors participating in this offline inquiry are required to hold an average daily market value of at least 60 million yuan (inclusive) of unrestricted A-share shares and unrestricted depository certificates in the Shenzhen market for 20 trading days (including T-6) before September 26, 2018 (T-6). Taking into account the initial amount of offline issuance and the valuation of the issuer by the sponsor (lead underwriter) during this preliminary inquiry stage, the sponsor (lead underwriter) set the minimum proposed subscription quantity for each placement target managed by offline investors at 1.5 million shares, and the minimum change unit for the proposed number of shares to be purchased was 100,000 shares, that is, the portion of each placement object managed by offline investors with a proposed subscription quantity exceeding 1.5 million shares must be an integer multiple of 100,000 shares, and not more than 3 million shares. The minimum unit quoted for placement is 0.01 yuan.

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