Markets· IPO

Shanghai W-Ibeda High Tech.Group’s IPO to debut on SSE STAR Market

minutes 2021/07/28 10:17:00

Jul 28, 2021 (China Knowledge) - Shanghai W-Ibeda High Tech.Group (688071) to start trading on the Shanghai Stock Exchange's STAR Market Jul 29, tomorrow. The firm has issued 18.21 mln shares priced at RMB 13.73 per share raising RMB 250.04 mln. Its price-to-earnings ratio (PE) stands at 24.98. During subscription the IPO was 4,118 times oversubscribed.

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

Shanghai W-Ibeda High Tech Group is a manufacturer and wholesaler of electrical signals measuring and testing instruments. The Company was founded in November 1998 and is located in Shanghai, China.

In FY 2020, Shanghai W-Ibeda High Tech.Group garnered a total revenue of RMB 301.9 mln, up 2% YoY. In terms of net income, it achieved RMB 44.85 mln, rising 12% YoY. In Q1 2021, the company reported revenue of RMB 28.56 mln, a YoY increase of 54%, and its net profits reached RMB -3.54 mln, up 64% YoY.

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