Jul 29, 2020 (China Knowledge) - Eyebright Medical Technology (688050) to start trading on the Shanghai STAR Market today, at a public offering price of RMB 33.55 per share, raising RMB 882.03 mln. Its initial listing shares account for 25% of total outstanding shares. The company’s initial price-to-earning ratio (PE) stands at 55.55.
China Merchants Securities acted as the lead underwriter and sponsor for the IPO.
Earlier, Eyebright Medical Technology said its IPO was 3,124 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.
Eyebright Medical Technology Beijing Co Ltd is a China-based company principally involved in the research, development, manufacturing and sales of ophthalmic medical devices. Its main products include ophthalmic surgery and optometry. Surgical products mainly include intraocular lens, capsular tension ring, intraocular lens implantation system, ophthalmic viscoelastic agent, various types of ophthalmic microsurgical instruments and ophthalmic scalpels, and optometry products include corneal orthopaedics (night-wear type), hard contact lens (daily-wear type) and tear test paper, among others. The Company conducts its businesses in domestic and overseas markets.
In financial year 2019, Eyebright Medical Technology garnered a total revenue of RMB 195.2 mln, up 54% YoY. In terms of net income, it achieved RMB 66 mln, up 224% YoY. Accordingly, return on equity (ROE) and return on asset (ROA) stood at 11.41% and 10.34% respectively, earning per share (EPS) of 0.85 RMB.
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