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Equity · IPO
Beijing Wantai Biological Pharmacy Enterprise’s IPO debut on Shanghai Stock Exchange today
2020/04/29 01:34:47
Beijing Wantai Biological Pharmacy Enterprise, 603392

Apr 29, 2020 (China Knowledge) - Beijing Wantai Biological Pharmacy Enterprise (603392) to start trading on the Shanghai Stock Exchange - Main Board today, at a public offering price of RMB 8.75 per share, raising RMB 381.5 mln. Its initial listing shares account for 10.06% of total outstanding shares. The company’s initial price-to-earning ratio (PE) stands at 22.98.

Sinolink Securities acted as the lead underwriter and sponsor for the IPO.

Earlier, Beijing Wantai Biological Pharmacy Enterprise said its IPO was 2,448 times oversubscribed. Since 2019 to date, A-shares IPOs achieved median oversubscription of 2,373 times and the highest at 8,375 times. We expect the IPO to hit limit of 44% increment in its first day of listing. For subsequent 30-day trading the performances can be obtained from our China IPO Weekly.

Beijing Wantai Biopharmaceutical Co., Ltd. is a company mainly engaged in the research and development, production and sales of in-vitro diagnostics. The Company produces and sells in-vitro diagnostics, in-vitro diagnostic equipment and vaccines. The Company is also engaged in the sales of agent products. The in-vitro diagnostics include: enzyme-linked immunosorbent assay (ELISA) reagents, chemiluminescence reagents, biochemical reagents and quality control products. The in-vitro diagnostic instruments mainly include the automatic chemiluminescence immunoassay analyzer. The primary product of vaccine products is Hecolin used for hepatitis E. The agent products are in-vitro diagnostics and in-vitro diagnostic equipment from Bio-Rad Laboratories Inc in the U.S. and Diagast SAS in France.

In financial year 2019, Beijing Wantai Biological Pharmacy Enterprise garnered a total revenue of RMB 1.18 bln, up 20% YoY. In terms of net income, it achieved RMB 210 mln, up -28% YoY. Accordingly, return on equity (ROE) and return on asset (ROA) stood at 14.36% and 10.57% respectively, earning per share (EPS) of 0.54 RMB.

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