Equity· IPO

Hunan Yussen Energy Technology’s IPO debut on Shenzhen Stock Exchange today

minutes 2020/06/02 01:46:47
Hunan Yussen Energy Technology, 002986

Jun 02, 2020 (China Knowledge) - Hunan Yussen Energy Technology (002986) to start trading on the Shenzhen Stock Exchange - SME Board today, at a public offering price of RMB 39.99 per share, raising RMB 1.13 bln. Its initial listing shares account for 25% of total outstanding shares. The company’s initial price-to-earning ratio (PE) stands at 19.31.

Essence Securities acted as the lead underwriter and sponsor for the IPO.

Earlier, Hunan Yussen Energy Technology said its IPO was 3,959 times oversubscribed. Since 2019 to date, A-shares IPOs achieved median oversubscription of 2,373 times and the highest at 8,375 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.

Hunan Yussen Energy Technology Co Ltd is a China-based company mainly engaged in the process, development, production and sales of organic chemical products using liquefied petroleum gas (LPG) as raw materials. The Company's main products are isooctane, methyl tert-butyl ether and sec-butyl acetate. The Company also produces and sells a small amount of isopropanol, methyl acetate and other products. It also sells by-products such as pentane blowing agent.

In financial year 2019, Hunan Yussen Energy Technology garnered a total revenue of RMB 3.16 bln, down 5% YoY. In terms of net income, it achieved RMB 239.01 mln, up 35% YoY. Accordingly, return on equity (ROE) and return on asset (ROA) stood at 27.97% and 21.59% respectively, earning per share (EPS) of 2.85 RMB.

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