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Equity · IPO
Qingdao Sentury Tire’s IPO debut on Shenzhen Stock Exchange today
2020/09/11 01:49:22

Sep 11, 2020 (China Knowledge) - Qingdao Sentury Tire (002984) to start trading on the Shenzhen Stock Exchange - SME Board today, at a public offering price of RMB 18.96 per share, raising RMB 1.31 bln. Its initial listing shares account for 11% of total outstanding shares. The company’s initial price-to-earning ratio (PE) stands at 16.63.

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

Earlier, Qingdao Sentury Tire said its IPO was 2,887 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.

Qingdao Sentury Tire Co Ltd is engaged in research and development, production and sales of various types of tires. The Company's products are comprised of passenger car tires, including economic tires, high-performance passenger car tires and special performance tires; light truck tires; special tires, including racing tires and aviation tires. The Company owns four brands which are SENTURY, LANDSAIL, DELINTE and GROUNDSPEED.

In financial year 2019, Qingdao Sentury Tire garnered a total revenue of RMB 4578.92 bln, up 10% YoY. In terms of net income, it achieved RMB 762 mln, up 52% YoY. Accordingly, return on equity (ROE) and return on asset (ROA) stood at 23.04% and 11.67% respectively, earning per share (EPS) of 1.28 RMB.


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