Nov 18, 2020 (China Knowledge) - Orinko Advanced Plastics  (688219) to start trading on the Shanghai STAR Market today, at a public offering price of RMB 8.29 per share, raising RMB 380.75 mln. Its initial listing shares account for 10% of total outstanding shares. The company’s initial price-to-earning ratio (PE) stands at 38.14.

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

Earlier, Orinko Advanced Plastics  said its IPO was 2,881 times oversubscribed. Since 2019 to date, A-shares IPOs achieved median oversubscription of 2,814 times and the highest at 9,194 times. For subsequent 30-day trading the performances can be obtained from our China IPO Weekly.

Orinko Advanced Plastics Co Ltd is a China-based company mainly engaged in the research and development, production and sales of modified plastics. The Company's main products are modified plastics, which can be divided into polyolefin series, polystyrene series, engineering plastics and other series. Its products are used in home appliances, automobiles, telecommunications, electrical and electronic, medical, rail transit, home building materials, security and other fields. The Company mainly conducts its businesses in the China market.

In financial year 2019, Orinko Advanced Plastics  garnered a total revenue of RMB 4031.47 bln, up 114% YoY. In terms of net income, it achieved RMB 124 mln, up 194% YoY. Accordingly, return on equity (ROE) and return on asset (ROA) stood at 10.38% and 3.16% respectively.

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