Jan 12, 2021 (China Knowledge) - Jiangsu Chuanzhiboke Education Technology (003032) to start trading on the Shenzhen Stock Exchange - SME Board today, at a public offering price of RMB 8.46 per share, raising RMB 340.47 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.
China Securities acted as the lead underwriter and sponsor for the IPO.
Earlier, Jiangsu Chuanzhiboke Education Technology said its IPO was 3,407 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.
Jiangsu Chuanzhi Podcast Education Technology Co., Ltd. is a Chinese high-tech enterprise mainly engaged in non-academic, applied computer information technology (IT) education and training. The company mainly provides IT technology education and training services to students through self-developed course content, teaching systems and its own teaching and research team. The company's products and services include short-term on-site training in IT disciplines, short-term on-site training in IT disciplines, online IT training, IT non-academic higher education training and IT non-academic higher education training. The company mainly conducts business in the domestic market.
In financial year 2019, Jiangsu Chuanzhiboke Education Technology garnered a total revenue of RMB 923.67 mln, up 17% YoY. In terms of net income, it achieved RMB 202 mln, up 4% YoY. Accordingly, return on equity (ROE) and return on asset (ROA) stood at 26.25% and 17.48% respectively, earning per share (EPS) of 0.5 RMB.
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