Sep 21, 2020 (China Knowledge) - Aurisco Pharmaceutical (605116) to start trading on the Shanghai Stock Exchange - Main Board today, at a public offering price of RMB 8.37 per share, raising RMB 343.17 mln. Its initial listing shares account for 10% of total outstanding shares. The company’s initial price-to-earning ratio (PE) stands at 22.98.
Essence Securities acted as the lead underwriter and sponsor for the IPO.
Earlier, Aurisco Pharmaceutical said its IPO was 3,042 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.
Aurisco Pharmaceutical Co Ltd is a China-based company principally engaged in the research and development, production and sales of specialty active pharmaceutical ingredients (APIs) and pharmaceutical intermediates. The Company's main products are respiratory, cardiovascular, anti-infective and nervous system drugs, including flumethasone, fluticasone propionate, eplerenone, tenofovir, pregabalin and other APIs and intermediates. The Company distributes its products in domestic market and to overseas markets.
In financial year 2019, Aurisco Pharmaceutical garnered a total revenue of RMB 581.63 mln, up 1% YoY. In terms of net income, it achieved RMB 206 mln, up 26% YoY. Accordingly, return on equity (ROE) and return on asset (ROA) stood at 21.09% and 18.42% respectively, earning per share (EPS) of 0.52 RMB.
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