Equity· IPO

Shanghai Yanpu Metal Products’s IPO debut on Shanghai Stock Exchange today

minutes 2020/09/15 01:59:25

Sep 15, 2020 (China Knowledge) - Shanghai Yanpu Metal Products (605128) to start trading on the Shanghai Stock Exchange - Main Board today, at a public offering price of RMB 23.31 per share, raising RMB 466.2 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.

BOCI International acted as the lead underwriter and sponsor for the IPO.

Earlier, Shanghai Yanpu Metal Products said its IPO was 7,565 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.

SHANGHAI YANPU METAL PRODUCTS CO., LTD is a China-based company principally engaged in the research and development, production and sales of automotive seat frame assemblies, seat slide assemblies and automotive seats, seat belts, locks and other system stamping parts and injection molded parts. The Company's main products include car seat frame assemblies (including seat slides), precision stamping parts, injection molded parts and mold inspection tools. The Company distributes its products in the domestic market and to overseas markets.

In financial year 2019, Shanghai Yanpu Metal Products garnered a total revenue of RMB 813.81 mln, down 2% YoY. In terms of net income, it achieved RMB 108 mln, up 12% YoY. Accordingly, return on equity (ROE) and return on asset (ROA) stood at 18.9% and 10.44% respectively, earning per share (EPS) of 1.47 RMB.

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