Today (June 20), Tide shares (BJ831278, stock price 4.06 yuan, market value 580 million yuan) was listed on the Beijing Stock Exchange, and it broke during the session. The company opened slightly up, but the stock price rose to 4.41 yuan/share and then turned down, once falling to 4.01 yuan/share. In the end, Tide shares closed at 4.06 yuan per share.
According to the company’s announcement, the sponsor (lead underwriter) for the issuance of Tide shares is Zhongtai Securities Co., Ltd. (hereinafter referred to as Zhongtai Securities), the issue price is 4.06 yuan per share, and the issue price-earnings ratio is 18.89 times.
The initial issuance of Tide shares is 25 million shares, and the total share capital after the issuance is 143 million shares, accounting for 17.46% of the total share capital after the issuance (before the over-allotment option is exercised). The company granted Zhongtai Securities an over-allotment option of 15% of the initial issue size. If the over-allotment option is exercised in full, the total number of shares issued will be expanded to 28.75 million shares, and the total share capital after the issuance will be expanded to 147 million shares. The number accounts for 19.56% of the total share capital of the company after the issuance (after the over-allotment option is fully exercised).
The issuance results show that Tide shares IPO introduced 7 strategic investors, with a total of 5 million shares in the strategic placement, accounting for 20% of the issuance scale (excluding the number of over-allotment shares), and the total amount of funds raised by the strategic placement was 20.3 million yuan. The number of allocated accounts through online issuance was 61,800, and the proportion of online allocation was 0.16%.
Image source: Screenshot of the company announcement
According to the prospectus, Tide plans to invest the raised funds in the construction project of intelligent manufacturing workshop for high-performance new energy vehicle bearings, the construction project of commercial vehicle bearing production line and the construction project of technology research and development center. The company is a national-level specialized, special, and new little giant enterprise specializing in the design, manufacture and sales of precision bearings for automobiles. The company’s main products are air conditioner series bearings, tensioner series bearings, water pump series bearings and Bracket bearing. In 2021, Tide will achieve an operating income of 283 million yuan and a net profit of 31.38 million yuan.
Source of cover image: Photo Network-500311372
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