Jan 11, 2021 (China Knowledge) - Qingdao Choho Industrial (003033) to start trading on the Shenzhen Stock Exchange - SME Board today, at a public offering price of RMB 23.28 per share, raising RMB 476.08 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.
China International Capital Corporation (CICC) acted as the lead underwriter and sponsor for the IPO.
Earlier, Qingdao Choho Industrial said its IPO was 5,057 times oversubscribed. Since 2019 to date, A-shares IPOs achieved median oversubscription of 2,814 times and the highest at 9,194 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 CHOHO Industrial Co Ltd is headquartered in Qingdao, Shandong, China (Mainland) and is a manufacturer of farm machinery and equipment. The company was founded in 1999.
In financial year 2019, Qingdao Choho Industrial garnered a total revenue of RMB 806.13 mln, up 10% YoY. In terms of net income, it achieved RMB 104 mln, up 37% YoY. Accordingly, return on equity (ROE) and return on asset (ROA) stood at 26.7% and 16.33% respectively, earning per share (EPS) of 1.5 RMB.
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