Oct 12, 2020 (China Knowledge) - Zhongyin Babi Food (605338) to start trading on the Shanghai Stock Exchange - Main Board today, at a public offering price of RMB 12.72 per share, raising RMB 788.64 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.
Guoyuan Securities Company Limited acted as the lead underwriter and sponsor for the IPO.
Earlier, Zhongyin Babi Food said its IPO was 2,861 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.
Zhongyin Babi Food Co Ltd is a China-based company specialized in the research and development, production and sales of Chinese pastry quick-frozen food. The Company's products include pastry products, filling products and external procurement products, including steamed buns, steamed buns, whole grain snacks, fillings and porridge drinks. The Company mainly conducts its businesses within domestic market.
In financial year 2019, Zhongyin Babi Food garnered a total revenue of RMB 1063.97 bln, up 7% YoY. In terms of net income, it achieved RMB 208 mln, up 10% YoY. Accordingly, return on equity (ROE) and return on asset (ROA) stood at 23.66% and 17.01% respectively, earning per share (EPS) of 0.83 RMB.
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