Hunan aibulu Environmental Protection Technology Co., Ltd
Announcement on initial public offering and listing on GEM
Sponsor (lead underwriter): Western Securities Co.Ltd(002673)
hot tip
Hunan aibulu Environmental Protection Technology Co., Ltd. (hereinafter referred to as "aibulu", "issuer" or "company") in accordance with the administrative measures for securities issuance and underwriting (CSRC order [No. 144]) (hereinafter referred to as "administrative measures") issued by China Securities Regulatory Commission (hereinafter referred to as "CSRC") Measures for the administration of the registration of initial public offerings on the gem (for Trial Implementation) (CSRC order [No. 167]), special provisions on the issuance and underwriting of initial public offerings on the gem (CSRC announcement [2021] No. 21, hereinafter referred to as the "special provisions"), The rules for the administration of offline investors in initial public offerings under the registration system (Zhong Zheng Xie Fa [2021] No. 212, hereinafter referred to as the "rules for the administration of offline investors") and the rules for the allocation and sale of initial public offerings (Zhong Zheng Xie Fa [2018] No. 142) issued by the China Securities Association (hereinafter referred to as the "Securities Association"), Shenzhen Stock Exchange (hereinafter referred to as "Shenzhen Stock Exchange") issued the detailed rules for the implementation of the issuance and underwriting business of initial public offering of securities on the gem of Shenzhen Stock Exchange (revised in 2021) (SZS [2021] No. 919, hereinafter referred to as "detailed rules for the implementation of business") Relevant laws and regulations, regulatory provisions, self-discipline rules and other documents such as the detailed rules for the implementation of online issuance of initial public offering in Shenzhen market (SZS [2018] No. 279, hereinafter referred to as the "detailed rules for the implementation of online issuance"), the detailed rules for the implementation of offline issuance of initial public offering in Shenzhen market (revised in 2020) (SZS [2020] No. 483, hereinafter referred to as the "detailed rules for the implementation of offline issuance"), As well as the relevant provisions of the Shenzhen Stock Exchange on stock issuance and listing rules and the latest operating guidelines, organize the implementation of initial public offering and listing on the gem.
The sponsor (lead underwriter) of this offering is Western Securities Co.Ltd(002673) (hereinafter referred to as " Western Securities Co.Ltd(002673) " or "sponsor (lead underwriter)").
The initial inquiry and offline subscription of this offering are conducted through the offline issuance electronic platform of Shenzhen Stock Exchange (hereinafter referred to as the "offline issuance electronic platform"). Offline investors are requested to carefully read this announcement and the implementation rules of offline issuance and other relevant provisions. The online issuance is carried out through the trading system of Shenzhen Stock Exchange by means of subscription and pricing according to the market value. Online investors are requested to carefully read this announcement and the detailed rules for the implementation of online issuance.
This offering is applicable to the special provisions on the issuance and underwriting of initial public offerings on the gem (CSRC announcement [2021] No. 21) issued by the CSRC on September 18, 2021, and the practical implementation rules for the issuance and underwriting of initial public offerings on the gem of Shenzhen Stock Exchange (revised in 2021) (SZS [2021] No. 919) issued by the Shenzhen Stock Exchange The code for underwriting of initial public offerings under the registration system (Zhong Zheng Xie Fa [2021] No. 213) issued by the Securities Association invites investors to pay attention to the changes of relevant regulations, pay attention to investment risks, carefully study and judge the rationality of issuance pricing and make investment decisions rationally.
Investors are kindly requested to focus on the issuance process, online and offline subscription and payment, and the setting of the restricted sales period. The specific contents are as follows:
1. After the preliminary inquiry, the issuer and the sponsor (lead underwriter) shall, in accordance with the exclusion rules agreed in the announcement on preliminary inquiry and promotion of initial public offering of shares by Hunan aibulu Environmental Protection Technology Co., Ltd. and listing on the gem (hereinafter referred to as the "announcement on preliminary inquiry and promotion"), after excluding the preliminary inquiry results of investors who do not meet the requirements, By consensus, all placing objects whose proposed purchase price is higher than 25.00 yuan / share (excluding 25.00 yuan / share) will be eliminated; The proposed subscription price is 25.00 yuan / share, and the placing objects whose subscription quantity is less than 10 million shares are eliminated; The proposed subscription price is 25.00 yuan / share, the number of subscription is equal to 10 million shares, and the subscription time is 14:45:44:335 on April 11, 2022. Among the placing objects, 55 placing objects are excluded from the back to the front according to the order of placing objects automatically generated by the offline issuance electronic platform of Shenzhen Stock Exchange. In the above process, a total of 80 placing objects are excluded, and the total number of shares to be purchased is 773.7 million, accounting for 1.0030% of the total number of 771408 million shares to be purchased after excluding invalid quotations in this preliminary inquiry. The excluded part shall not participate in offline and online subscription. Please refer to the part marked "high price elimination" in the "attached table: statistical table of investor quotation information" for the specific elimination.
2. According to the preliminary inquiry results, the issuer and the recommendation institution (lead underwriter) comprehensively consider the fundamentals of the issuer, the number of shares in this public offering, the industry of the issuer, the valuation level of comparable listed companies, market conditions, the demand for raised funds and underwriting risks, and negotiate to determine that the price of this issuance is 18.39 yuan / share, and the offline issuance will not conduct cumulative bidding inquiry.
Investors are requested to make online and offline subscription at this price on April 14, 2022 (t day), and there is no need to pay the subscription fund at the time of subscription. The offline issuance and Subscription Date and online subscription date are the same as April 14, 2022 (t day), in which the offline subscription time is 9:30-15:00, and the online subscription time is 9:15-11:30 and 13:00-15:00.
3. The issuing price determined through negotiation between the issuer and the recommendation institution (lead underwriter) is 18.39 yuan / share, which does not exceed the median and weighted average of offline investors' quotation after excluding the highest quotation, as well as the Securities Investment Fund (hereinafter referred to as "public fund") and the National Social Security Fund (hereinafter referred to as "social security fund") established through public offering after excluding the highest quotation The lower of the median and weighted average quotation of basic endowment insurance fund (hereinafter referred to as "pension"), enterprise annuity fund established in accordance with the measures for the administration of enterprise annuity fund (hereinafter referred to as "enterprise annuity fund") and insurance fund (hereinafter referred to as "insurance fund") in accordance with the measures for the administration of the use of insurance funds, is 183954 yuan / share. According to item (IV) of Article 39 of the business implementation rules, the relevant subsidiaries of the recommendation institution are not required to participate in this strategic placement.
This offering does not arrange the strategic placement to the senior management and core employees of the issuer, asset management plans and other external investors. According to the issuing price, the relevant subsidiaries of the sponsor need not participate in the strategic placement. Finally, this issuance will not be targeted to strategic investors. The difference between the initial strategic placement and the final strategic placement will be allocated back to the number of 1.5 million.
This issuance is finally carried out by a combination of offline inquiry and placement to qualified investors (hereinafter referred to as "offline issuance") and online pricing issuance to social public investors holding non restricted A-share shares or non restricted depositary receipts in Shenzhen market (hereinafter referred to as "online issuance").
4. Arrangement of restricted sale period: among the shares issued this time, the shares issued online have no circulation restrictions and restricted sale period arrangement, and can be circulated from the date when the shares issued this time are listed on the gem of Shenzhen Stock Exchange.
The offline issuance part adopts the proportional sales restriction method, and the offline investors shall promise that the sales restriction period of 10% (rounded up) of the number of shares allocated to them is 6 months from the date of the issuer's initial public offering and listing. That is, among the shares allocated to each placing object, 90% of the shares are sold indefinitely and can be circulated from the date when the issued shares are listed and traded on the Shenzhen Stock Exchange; The sales restriction period of 10% of the shares is 6 months, and the sales restriction period starts from the date when the issued shares are listed and traded on the Shenzhen Stock Exchange.
When offline investors participate in the preliminary inquiry and quotation and offline purchase, they do not need to fill in the arrangement of the restricted sale period for the placing objects under their management. Once the quotation is made, it is deemed to accept the arrangement of the online restricted sale period disclosed in this announcement.
5. Independent expression of purchase intention: online investors shall independently express their purchase intention and shall not fully entrust securities companies to purchase new shares on their behalf.
6. Callback mechanism of this issuance: after the online and offline subscription is completed, the issuer and the sponsor (lead underwriter) will determine whether to start the callback mechanism on April 14, 2022 (t day) according to the online subscription, so as to adjust the online and offline issuance scale. The launch of the callback mechanism will be determined according to the initial effective subscription multiple of online investors.
7. Offline investors shall, in accordance with the announcement on the results of initial public offering of shares by Hunan aibulu Environmental Protection Technology Co., Ltd. and initial placement of offline issuance listed on the gem (hereinafter referred to as "initial placement of offline issuance")
The amount of new shares shall be determined in time according to the initial subscription price and the final allotment result on February 18, 2024.
The subscription funds shall be paid in full within the specified time. If the subscription funds are not paid in full within the specified time or as required, all the new shares allocated to the placing object shall be invalid. If the above circumstances occur when multiple new shares are issued on the same day, all the new shares allocated to the placing object shall be invalid. If different placing objects share bank accounts, if the subscription funds are insufficient, all the new shares allocated to the placing objects sharing bank accounts will be invalid. Offline investors are allocated multiple new shares on the same day. Please pay for each new share separately.
After winning the subscription of new shares, online investors shall fulfill the obligation of capital settlement in accordance with the announcement on the results of online lottery of Hunan aibulu Environmental Protection Technology Co., Ltd. in its initial public offering and listing on the gem (hereinafter referred to as the announcement on the results of online lottery), so as to ensure that their capital account has sufficient subscription funds for new shares on April 18 (T + 2) 2022, and the insufficient part shall be deemed to have abandoned the subscription, The resulting consequences and relevant legal liabilities shall be borne by the investors themselves. The transfer of investors' funds shall comply with the relevant provisions of the securities company where the investors are located.
The shares abandoned by offline and online investors shall be underwritten by the sponsor (lead underwriter).
8. Suspension of issuance: when the total number of shares subscribed by offline and online investors is less than 70% of the number of public offerings, the issuer and the sponsor (lead underwriter) will suspend the issuance of new shares and disclose the reasons for suspension and subsequent arrangements.
9. All the effective quotation placing objects announced in this announcement must participate in the offline purchase. If the effective quotation offline investors do not participate in the offline purchase, do not fully apply for the purchase, or the offline investors who obtain the preliminary placement fail to pay the subscription funds in time and in full according to the finally determined issuance price and allocated quantity, they will be deemed to have breached the contract and shall bear the liability for breach of contract. The recommendation institution (lead underwriter) will report the breach to the Securities Industry Association for the record. The number of violations of placing objects in gem, sci-tech innovation board, main board and other sectors shall be calculated together. During the period of being included in the restricted list, the relevant placing objects shall not participate in the offline inquiry and placement of projects related to gem, science and innovation board, main board and other sectors.
If online investors fail to pay in full after winning the lottery for three times in a row within 12 months, they shall not participate in the online subscription of new shares, depositary receipts, convertible corporate bonds and exchangeable corporate bonds within 6 months (calculated as 180 natural days, including the next day) from the next day of the settlement participant's latest declaration of abandonment of subscription. The number of times of giving up subscription shall be calculated according to the number of times of investors actually giving up subscription of new shares, depositary receipts, convertible corporate bonds and exchangeable corporate bonds.
10. The issuer and the recommendation institution (lead underwriter) solemnly remind the majority of investors to pay attention to investment risks and manage risks
For sexual investment, carefully read the report published in China Securities Journal and Shanghai Stock Exchange on April 13, 2022 (t-1)
Securities Journal, securities times, Securities Daily, economic information daily and Hunan AI in the Financial Times
Blu Environmental Protection Technology Co., Ltd. made an initial public offering of shares and was listed on the gem. The investment risk was particularly public
(hereinafter referred to as "special announcement on investment risks"), fully understand the market risks and prudently participate in this report
New share issuance.
Valuation and investment risk tips
1. The issue price is 18.39 yuan / share. Investors are requested to judge the issue price according to the following conditions
Rationality of.
(1) According to the guidelines for Industry Classification of listed companies (revised in 2012) issued by China Securities Regulatory Commission, aibulu
The industry is "(n77) ecological protection and environmental governance". China Securities Index Co., Ltd. in April 2022
The average static P / E ratio of the industry in the latest month released on August 11 (T-3) is 21.92 times. Please investors
Reference when making decisions.
As of April 11, 2022 (T-3), the valuation levels of comparable A-share listed companies are as follows:
Before deduction in 2021 and after deduction in 2021, the static P / E securities code corresponding to the static P / E of the stock closing on T-3 days after deduction in 2021 is referred to as EPS. EPS quotation rate (Times) - before deduction rate (Times) - after deduction (yuan / share) (yuan / share) (yuan / share)
Yonker Environmental Protection Co.Ltd(300187) Yonker Environmental Protection Co.Ltd(300187) 0.1102 0.0993 6.63 60.16 66.77
Welle Environmental Group Co.Ltd(300190) Welle Environmental Group Co.Ltd(300190) - - 5.09 - -
Guangxi Bossco Environmental Protection Technology Co.Ltd(300422) Guangxi Bossco Environmental Protection Technology Co.Ltd(300422) -0.3293 -0.4144 6.95 -21.11 -16.77
Beijing Geoenviron Engineering & Technology Inc(603588) Beijing Geoenviron Engineering & Technology Inc(603588) 0.7133 0.6814 15.02 21.06
