Equity· IPO

Ningbo Bohui Chemical Technology’s IPO debut on Shenzhen Stock Exchange today

minutes 2020/06/30 01:22:02
Ningbo Bohui Chemical Technology, 300839

Jun 30, 2020 (China Knowledge) - Ningbo Bohui Chemical Technology (300839) to start trading on the Shenzhen ChiNext Market today, at a public offering price of RMB 16.26 per share, raising RMB 422.76 mln. Its initial listing shares account for 25% of total outstanding shares. The company’s initial price-to-earning ratio (PE) stands at 22.99.

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

Earlier, Ningbo Bohui Chemical Technology said its IPO was 3,856 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.

NingBo BoHui Chemical Technology Co., Ltd. is principally engaged in the development, manufacture and distribution of aromatics and light fuel oil products. The Company mainly provides rubber chemicals which applied in the softening treatment of rubber products; asphalt additives, which applied in the manufacture of water-proof materials and the pavement of road and bridges; plastic additives, and lubricating oil additives. The Company also provides fuel oil products, which used as fuel for ships and industrial furnaces.

In financial year 2019, Ningbo Bohui Chemical Technology garnered a total revenue of RMB 827.16 mln, up 42% YoY. In terms of net income, it achieved RMB 76 mln, down 15% YoY. Accordingly, return on equity (ROE) and return on asset (ROA) stood at 18.95% and 9% respectively, earning per share (EPS) of 0.97 RMB.

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