Jan 13, 2021 (China Knowledge) - Hob Biotech Group (688656) to start trading on the Shanghai STAR Market today, at a public offering price of RMB 35.26 per share, raising RMB 555.86 mln. Its initial listing shares account for 25% of total outstanding shares. The company’s initial price-to-earning ratio (PE) stands at 36.42.
Huatai United Securities acted as the lead underwriter and sponsor for the IPO.
Earlier, Hob Biotech Group said its IPO was 3,677 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.
Jiangsu Hoobo Biomedical Co., Ltd. is a Chinese company mainly engaged in the research and development, production and sales of in vitro diagnostic reagents. The detection reagents produced by the company are mainly used in the clinical auxiliary diagnosis of allergic diseases and autoimmune diseases. Brands of allergy testing products include Oboke, Fubok, Shibok and Shibok+. Autoimmune disease detection product brands include Norbok and Nabok. The company is also engaged in the sale of testing equipment for reagents. The company mainly conducts business in the domestic market.
In financial year 2019, Hob Biotech Group garnered a total revenue of RMB 259.13 mln, up 29% YoY. In terms of net income, it achieved RMB 74 mln, up 57% YoY. Accordingly, return on equity (ROE) and return on asset (ROA) stood at 45.15% and 25.11% respectively, earning per share (EPS) of 1.35 RMB.
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