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Equity · IPO
Western Regions Tourism Development’s IPO debut on Shenzhen Stock Exchange today
2020/08/06 01:45:11

Aug 06, 2020 (China Knowledge) - Western Regions Tourism Development (300859) to start trading on the Shenzhen ChiNext Market today, at a public offering price of RMB 7.19 per share, raising RMB 278.61 mln. Its initial listing shares account for 25% of total outstanding shares. The company’s initial price-to-earning ratio (PE) stands at 15.28.

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

Earlier, Western Regions Tourism Development said its IPO was 3,842 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.

Western Regions Tourism Development Co Ltd is a China-based company mainly engaged in the development and operation of tourism resources. Through the development of scenic spots, the Company provides tourist services for tourists, mainly including tourist passenger transport, mountain ropeway sightseeing, cruise sightseeing, cultural performances, hot spring entertainment, hotels, conferences and travel agency services. The Company mainly conducts its businesses in the China market.

In financial year 2019, Western Regions Tourism Development garnered a total revenue of RMB 240.96 mln, up 25% YoY. In terms of net income, it achieved RMB 78 mln, up 43% YoY. Accordingly, return on equity (ROE) and return on asset (ROA) stood at 18.83% and 15.27% respectively, earning per share (EPS) of 0.63 RMB.


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