May 18, 2020 (China Knowledge) - Jiangsu Jibeier Pharmaceutical (688566) to start trading on the Shanghai STAR Market today, at a public offering price of RMB 23.69 per share, raising RMB 1.11 bln. Its initial listing shares account for 25.00% of total outstanding shares. The company’s initial price-to-earning ratio (PE) stands at 40.55.
Sinolink Securities acted as the lead underwriter and sponsor for the IPO.
Earlier, Jiangsu Jibeier Pharmaceutical said its IPO was 2,398 times oversubscribed. Since 2019 to date, A-shares IPOs achieved median oversubscription of 2,373 times and the highest at 8,375 times. For subsequent 30-day trading the performances can be obtained from our China IPO Weekly.
Jiangsu Jibeier Pharmaceutical Co Ltd is a company engaged in the research, development, production and sales of drugs. The Company's products are comprised of tablets, capsules and eye drops. The tablet products include Leucogen tablets, Nitrendipine and Atenolol tablets, Aceclofenac Enteric-coated tablets and Asarone tablets. The Company's products are used to improve white blood cells, treat high blood pressure, eye infections and other diseases.
In financial year 2019, Jiangsu Jibeier Pharmaceutical garnered a total revenue of RMB 542.52 mln, up 12% YoY. In terms of net income, it achieved RMB 112 mln, up 16% YoY. Accordingly, return on equity (ROE) and return on asset (ROA) stood at 27.55% and 20.86% respectively, earning per share (EPS) of 0.8 RMB.
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