In the last three days of 2021, the new stock market of Hong Kong stocks was still accelerating. Shangtang, Quanfeng holdings and shengnuo pharmaceutical-b announced the placement results and landed in the dark market at the same time. As of the closing of Hafu dark market, they fell 0.52%, increased 15.25% and increased 0.08% respectively.
Interestingly, although it spans the multi industrial dimensions of artificial intelligence, biomedicine and manufacturing, the sponsors and price stabilizers of the three new shares in the same batch are China International Capital Corporation Limited(601995) . At the same time, CICC, which has to protect the market for three new shares, may be a little busy at the end of the year.
the average decline in the dark market of Shangtang was 0.08%, with a total turnover of 65.88 million
Among the three new shares, Shangtang technology, the first of the “Ai four dragons”, has the highest flow. The issue price is priced at the lower limit of the bidding price of HK $3.85, with a single hand signing rate of 60%. The IPO raised about HK $5.55 billion, and its market value was as high as HK $128 billion.
Based on the dark market data of the three securities companies, the average decline of the dark market of Shangtang was 0.08%, and the total turnover was HK $65.88 million. Among them, Huili securities closed at HK $3.83 per share, 0.52% lower than the offering price, with a turnover of HK $26.7 million; Yaocai securities closed at 7:30, closing at HK $3.9 per share, up 1.3%, with a turnover of HK $3.45 million.
Tang Xiaoou, founder of Shangtang and professor of Information Engineering Department of the Chinese University of Hong Kong, holds 21% of Shangtang. After Shangtang is listed, Professor Tang will be worth as much as HK $27 billion.
Although it has attracted the most attention among the three new shares, its public offering subscription multiple is the lowest among the three. The public offering of Zhongshang soup was subscribed for 5.18 times, while the subscription multiples of Quanfeng and shengnuo medicine were 7.49 times and 5.68 times respectively, which were higher than that of Shangtang, which was also one of the reasons why investors were sweating before the dark market.
The listing of Shangtang has the most twists and turns. Originally scheduled to be listed on December 17, the US Treasury included Shangtang in the “list of non SDN Chinese military industrial complex enterprises” on the pricing day, completing a wave of precision attacks. Shangtang’s IPO was also forced to be postponed.
Although according to its legal counsel, the relevant restrictions do not apply to the parent enterprise subject to the dismissal of the subsidiary, Shangtang decided to publish a supplementary prospectus and restart the offering.
Seven days later, he returned to the Hong Kong stock exchange with nine Chinese capital cornerstone. Shangtang’s fast response shocked the industry. The scale of the secondary offering and the bidding price remain unchanged, and the subscription amount of the cornerstone has been slightly adjusted with investors. Shangtang’s ultimate cornerstone investors include nine mixed ownership reform funds, Xuhui capital, Guosheng overseas Hong Kong and Shanghai Artificial Intelligence Industry equity investment funds, with a total subscription of about US $512 million, accounting for 68.89%, which is at a high level in Hong Kong stocks.
After the end of the offering, the green shoe mechanism will come into effect. The price stability is China International Capital Corporation Limited(601995) , and the exercisable shares will reach 225 million shares, exceeding the total shares of the public offering. The expiration date of the green shoe is January 22, 2022. In addition, the top 10 international placing subscribers accounted for 97%, showing a high concentration.
Quanfeng, an electric tool manufacturer, rose more than 15%, and the adult tail black horse
Slogan of Quanfeng holdings is “making good tools to help the world!”, From this slogan, we can know the scope of its experience. This dark horse of Hong Kong stocks at the end of the year focuses on the manufacturing of hand-held electric tools and garden tools, which are sold in more than 30000 chain stores in 100 countries around the world.
Quanfeng subscribed 17694 people for this public offering, with a subscription multiple of 7.49 times and a single hand signing rate of 70%. Among the new shares in the same batch, it is the only new share priced at the upper limit of the bidding price and with the highest single hand signing rate. It is worth noting that Quanfeng international placement subscription is 7.27 times, which belongs to a relatively high national allocation subscription rate among Hong Kong stocks.
According to the frost Sullivan report, the global ranking of Quanfeng holdings rose from No. 9 in 2018 to No. 7 in 2020 in terms of electric tool revenue, while the global ranking of Quanfeng holdings rose from No. 7 in 2018 to No. 2 in 2020 in terms of electric ope product revenue.
According to the prospectus, the revenue of Quanfeng holdings increased from US $690 million in 2018 to US $1.2 billion in 2020, with a compound annual growth rate of 31.9%. According to the frost Sullivan report, it was higher than 4.9% of the global power tools and ope industry in the same period. For the six months ended June 30, 2020, Quanfeng’s revenue was USD 514 million. For the six months ended June 30, 2021, its revenue increased significantly by 68.9% to USD 868 million.
Assuming that the over allotment right has not been exercised and the offering price is HK $40.60 per offer share, the global offering financing is about HK $2.75 billion. According to the prospectus, 66.5% of the funds raised in this IPO will be used to expand and upgrade the company’s production base in China; About 9.0% will be used for product R & D; About 7.0% will be used to improve sales and distribution channels; Approximately 7.5% will be used to pay interest bearing bank borrowings (which are usually used as working capital); About 10.0% will be used for working capital and other general corporate purposes.
Quanfeng’s cornerstone investors include Huili Fund Management Hong Kong Limited; Jinglin Asset Management Hong Kong Limited; Prime Capital Funds； 3W Fund Management Limited； Ivy asset management (Hong Kong) Co., Ltd. and Ms. Luo Jinhong, cornerstone subscription accounted for 52.24%.
After the sale, the green shoe mechanism takes effect, and the price stabilizer is still China International Capital Corporation Limited(601995) , with a total of 10787400 shares available for exercise. The expiration date of green shoes is January 21, 2022.
the last unprofitable biomedical stock in 2021
In 2021, shengnuo pharmaceutical, the last B-share of biomedicine, made a public offering with 6124 subscribers, with a subscription rate of 5.68 times, a one-hand signing rate of 21.77% and a one-hand signing rate of HK $3295.
Suno pharmaceutical is a biotechnology company focusing on the application of nucleic acid interference Technology (RNAi) for new drug creation. It has a set of nucleic acid drug introduction technology and new drug creation and industrialization platform, and has an in-depth layout in the fields of disease treatment such as tumor, fibrotic disease and virus infection.
At present, shengnuo pharmaceutical has more than ten products under development, of which the core products and the products with the fastest clinical progress are stp705 and stp707, both for TGF- β 1 and COX-2. Three indications of stp705 have obtained FDA Orphan Drug Certification in the United States, including primary sclerosing cholangitis, cholangiocarcinoma and the most common type of primary liver cancer.
Shengnuo pharmaceutical has introduced two cornerstone investors this time. Among them, Kunming jiashiqing has subscribed for 2.79145 million offer shares, and Jianxin force pharmaceutical has subscribed for 59135 million offer shares, totaling 3382800 offer shares, accounting for about 44.86% of the offer shares.
In addition, China International Capital Corporation Limited(601995) as the sponsor and price stabilizer of the three new shares in this batch, and the price stabilizer of celadon game and SF listed this month, China International Capital Corporation Limited(601995) became a “busy man” in the Hong Kong stock market in the last month of 2021.
(Financial Associated Press)
