Donglai Coating Technology (Shanghai) ’s IPO debut on SSE STAR Market today
Oct 23, 2020 (China Knowledge) - Donglai Coating Technology (Shanghai) (688129) to start trading on the Shanghai STAR Market today, at a public offering price of RMB 15.22 per share, raising RMB 456.6 mln. Its initial listing shares account for 25% of total outstanding shares. The company’s initial price-to-earning ratio (PE) stands at 24.71.
Orient Securities acted as the lead underwriter and sponsor for the IPO.
Earlier, Donglai Coating Technology (Shanghai) said its IPO was 3,381 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.
Donglai Coating Technology Shanghai Co Ltd is a China-based company mainly engaged in the provision of high-performance coating products. The Company's products include automotive after-sales repair coatings, new car interior and exterior trim and body coatings, computer, communications, and consumer electronics products (3C products) consumer electronics coatings. The Company also provides professional on-site color matching services. In addition, the Company provides customers with customized color paint development, spraying technical guidance, efficiency improvement and optimization and other services. Its products are used in the automotive aftermarket, automotive manufacturing market, computer, communication equipment and consumer electronics market. The Company mainly conducts its businesses in the China market.
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