Jixin State Control (08629) made its debut on the market. According to the announcement, the stock was priced at HK$9.9 per share, with a total issuance of 10.179 million shares. The net proceeds are expected to be approximately HK$59.4 million. As of the time of writing, the stock has risen by 22.22% to HK$12.1, with a turnover of HK$6.2169 million.
According to the news from the Zhitong Finance App, Jixin State Control (08629) made its debut on the market. According to the announcement, the stock was priced at HK$9.9 per share, with a total issuance of 10.179 million shares. The net proceeds are expected to be approximately HK$59.4 million. As of the time of writing, the stock has risen by 22.22% to HK$12.1, with a turnover of HK$6.2169 million.
It is reported that Jixin State Control is mainly engaged in construction project testing and inspection services. The company provides a range of construction project testing and inspection services, covering different types of testing and inspection processes in the industry. The company mainly provides construction project testing services including foundation and infrastructure testing services, building materials testing services, and building structure testing services.
According to the report from Zhuoshi Consulting, Jixin State Control's technology and service level in the field of construction project testing is among the best in the western Guangdong region. According to the dividend policy disclosed in the prospectus, Jixin State Control plans to distribute dividends to shareholders on an annual basis, with a dividend payout ratio of no less than 20% of the after-tax distributable profits for the year, while maintaining the company's healthy operating capital.