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Equity · IPO
Fsilon Furnishing and Construction Materials’s IPO debut on Shanghai Stock Exchange today
2020/08/03 02:17:11

Aug 03, 2020 (China Knowledge) - Fsilon Furnishing and Construction Materials (605318) to start trading on the Shanghai Stock Exchange - Main Board today, at a public offering price of RMB 13.09 per share, raising RMB 422.71 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.

Zhong De Securities acted as the lead underwriter and sponsor for the IPO.

Earlier, Fsilon Furnishing and Construction Materials said its IPO was 3,673 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.

Fsilon Furnishing and Construction Materials Corp is a company mainly engaged in research, development, production and sales of integrated ceilings. The Company's products are comprised of integrated ceiling basic module, integrated ceiling functional module, integrated ceiling auxiliary module and integrated wall. The products include gussets, single heaters, ventilating fans, light-emitting diode (LED) lighting fixtures, main keels, corners, aluminum walls and so on. The products are used in the decoration of kitchens, bathrooms, bedrooms, living rooms and dining rooms.

In financial year 2019, Fsilon Furnishing and Construction Materials garnered a total revenue of RMB 480.01 mln, down 7% YoY. In terms of net income, it achieved RMB 85 mln, up 3% YoY. Accordingly, return on equity (ROE) and return on asset (ROA) stood at 22.26% and 15.19% respectively, earning per share (EPS) of 0.87 RMB.

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