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Equity· IPO

Imeik Technology Development’s IPO debut on Shenzhen Stock Exchange today

CKN
minutes 2020/09/28 10:03:06
3,717

Sep 28, 2020 (China Knowledge) - Imeik Technology Development (300896) to start trading on the Shenzhen ChiNext Market today, at a public offering price of RMB 118.27 per share, raising RMB 3.57 bln. Its initial listing shares account for 25% of total outstanding shares. The company’s initial price-to-earning ratio (PE) stands at 47.9.

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

Earlier, Imeik Technology Development said its IPO was 6,117 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.

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In financial year 2019, Imeik Technology Development garnered a total revenue of RMB 557.72 mln, up 74% YoY. In terms of net income, it achieved RMB 351 mln, up 141% YoY. Accordingly, return on equity (ROE) and return on asset (ROA) stood at 57.79% and 49.36% respectively, earning per share (EPS) of 3.39 RMB.

 

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