Equity· IPO

Pan Asian Microvent Tech (Jiangsu)’s IPO debut on SSE STAR Market today

minutes 2020/10/16 02:04:46

Oct 16, 2020 (China Knowledge) - Pan Asian Microvent Tech (Jiangsu) (688386) to start trading on the Shanghai STAR Market today, at a public offering price of RMB 16.28 per share, raising RMB 284.9 mln. Its initial listing shares account for 25% of total outstanding shares. The company’s initial price-to-earning ratio (PE) stands at 26.08.

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

Earlier, Pan Asian Microvent Tech (Jiangsu) said its IPO was 3,166 times oversubscribed. Since 2019 to date, A-shares IPOs achieved median oversubscription of 2,814 times and the highest at 9,194 times. For subsequent 30-day trading the performances can be obtained from our China IPO Weekly.

Pan Asian Microvent Tech Jiangsu Corp is a company mainly engaged in research and development, production and sales of composite materials. The Company's products include expanded polytetrafluoroethylene (ePTFE) microvent products, seals, water retaining membranes, sound absorbing products and gas management products. The ePTFE microvent products are comprised of automotive microvent products, consumer electronics microvent products and packaging microvent products. The products are used in automobile lights, smart phones, new energy vehicle power battery packs and other products. The product functions include pressure balance, waterproof, dustproof, shock absorption, sound absorption and noise reduction.

In financial year 2019, Pan Asian Microvent Tech (Jiangsu) garnered a total revenue of RMB 245.28 mln, up 17% YoY. In terms of net income, it achieved RMB 51 mln, up 45% YoY. Accordingly, return on equity (ROE) and return on asset (ROA) stood at 16.2% and 11.36% respectively, earning per share (EPS) of 0 RMB.

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