Jul 27, 2020 (China Knowledge) - Beijing Scitop Bio-tech (300858) to start trading on the Shenzhen ChiNext Market today, at a public offering price of RMB 23.7 per share, raising RMB 488.93 mln. Its initial listing shares account for 25% of total outstanding shares. The company’s initial price-to-earning ratio (PE) stands at 22.99.
Credit Suisse Founder Securities Limited acted as the lead underwriter and sponsor for the IPO.
Earlier, Beijing Scitop Bio-tech said its IPO was 4,563 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 Scitop Bio-tech Co Ltd is a China-based company mainly engaged in the research, development, production and sales of compound food additives, edible probiotic products and animal and plant microecological preparations. The Company's main products include compound food additives, edible probiotic products, animal and plant microecological preparations and others. The Company mainly conducts its businesses within the China market.
In financial year 2019, Beijing Scitop Bio-tech garnered a total revenue of RMB 308.1 mln, down 3% YoY. In terms of net income, it achieved RMB 93 mln, up 1% YoY. Accordingly, return on equity (ROE) and return on asset (ROA) stood at 26.59% and 22.22% respectively, earning per share (EPS) of 1.51 RMB.
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