Equity· IPO

Swancor Advanced Materials’s IPO debut on SSE STAR Market today

minutes 2020/09/28 07:26:24

Sep 28, 2020 (China Knowledge) - Swancor Advanced Materials (688585) to start trading on the Shanghai STAR Market today, at a public offering price of RMB 2.49 per share, raising RMB 107.57 mln. Its initial listing shares account for 11% of total outstanding shares. The company’s initial price-to-earning ratio (PE) stands at 12.83.

Shenwan Hongyuan Securities acted as the lead underwriter and sponsor for the IPO.

Earlier, Swancor Advanced Materials said its IPO was 2,977 times oversubscribed. Since 2019 to date, A-shares IPOs achieved median oversubscription of 2,373 times and the highest at 8,375 times. For subsequent 30-day trading the performances can be obtained from our China IPO Weekly.

Swancor Advanced Materials Co Ltd is a China-based company mainly engaged in the research and development, production and sales of environmentally friendly high-performance corrosion-resistant materials, wind turbine blade materials and new composite materials. The Company's main products include vinyl ester resins, special unsaturated polyester resins, infusion resins for wind power blades, hand lay-up resins, adhesives, prepreg resins for wind power blade beams, pultrusion resins for wind power blade beams, and environmentally friendly resin, safety materials for rail transit, etc. Its products are used in rail transit safety materials and electric power, petrochemical, electronic and electrical, metallurgy, semiconductor, construction engineering, wind power blade materials and automotive lightweight materials. The Company conducts its businesses within the China market and to overseas markets.

In financial year 2019, Swancor Advanced Materials garnered a total revenue of RMB 1348.72 bln, up 9% YoY. In terms of net income, it achieved RMB 100 mln, up 248% YoY. Accordingly, return on equity (ROE) and return on asset (ROA) stood at 9.48% and 6.06% respectively, earning per share (EPS) of 0.22 RMB.


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