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Equity· IPO

Ways Electron’s IPO debut on Shanghai Stock Exchange today

CKN
minutes 2020/09/28 10:04:55
4,218

Sep 28, 2020 (China Knowledge) - Ways Electron (605218) to start trading on the Shanghai Stock Exchange - Main Board today, at a public offering price of RMB 10.97 per share, raising RMB 583.7 mln. Its initial listing shares account for 25% of total outstanding shares. The company’s initial price-to-earning ratio (PE) stands at 22.98.

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

Earlier, Ways Electron said its IPO was 3,214 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.

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In financial year 2019, Ways Electron garnered a total revenue of RMB 1230.22 bln, down 21% YoY. In terms of net income, it achieved RMB 115 mln, down 26% YoY. Accordingly, return on equity (ROE) and return on asset (ROA) stood at 23.36% and 13.91% respectively, earning per share (EPS) of 0.65 RMB.

 

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