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Equity· IPO

Wuxi Nce Power’s IPO debut on Shanghai Stock Exchange today

CKN
minutes 2020/09/28 10:06:26
4,210

Sep 28, 2020 (China Knowledge) - Wuxi Nce Power (605111) to start trading on the Shanghai Stock Exchange - Main Board today, at a public offering price of RMB 19.91 per share, raising RMB 503.72 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.

Ping An Securities acted as the lead underwriter and sponsor for the IPO.

Earlier, Wuxi Nce Power said its IPO was 4,347 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, Wuxi Nce Power garnered a total revenue of RMB 772.54 mln, up 8% YoY. In terms of net income, it achieved RMB 110 mln, down 32% YoY. Accordingly, return on equity (ROE) and return on asset (ROA) stood at 18.8% and 13.78% respectively, earning per share (EPS) of 1.29 RMB.

 

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