Oct 15, 2020 (China Knowledge) - Shanghai Holystar Information Technology (688330) to start trading on the Shanghai STAR Market today, at a public offering price of RMB 88.23 per share, raising RMB 2.21 bln. Its initial listing shares account for 25% of total outstanding shares. The company’s initial price-to-earning ratio (PE) stands at 41.97.
Huatai United Securities acted as the lead underwriter and sponsor for the IPO.
Earlier, Shanghai Holystar Information Technology said its IPO was 3,268 times oversubscribed. Since 2019 to date, A-shares IPOs achieved median oversubscription of 2,373 times and the highest at 8,375 times. For subsequent 30-day trading the performances can be obtained from our China IPO Weekly.
Shanghai Holy Star Information Technology Co Ltd is a company mainly engaged in research and development, production and sales of distribution networks intelligent equipment. The Company operates two major businesses. The distribution networks intelligent equipment business provides smart pole switches, fault indicators, other distribution networks intelligent equipment and related services, such as ground fault research and judgment auxiliary devices and on-site operation and maintenance implementation services. The distribution networks information service business provides software development and power geographic information system (GIS) implementation services.
In financial year 2019, Shanghai Holystar Information Technology garnered a total revenue of RMB 705.13 mln, up 70% YoY. In terms of net income, it achieved RMB 277 mln, up 148% YoY. Accordingly, return on equity (ROE) and return on asset (ROA) stood at 44.83% and 24.61% respectively, earning per share (EPS) of 0 RMB.
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