Markets· IPO

Sichuan Tianwei Electronic’s IPO to debut on SSE STAR Market

minutes 2021/07/29 03:21:26

Jul 29, 2021 (China Knowledge) - Sichuan Tianwei Electronic (688511) to start trading on the Shanghai Stock Exchange's STAR Market Jul 30, tomorrow. The firm has issued 20.00 mln shares priced at RMB 28.09 per share raising RMB 561.8 mln. Its price-to-earnings ratio (PE) stands at 20.59. During subscription the IPO was 4,103 times oversubscribed.

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

Sichuan Tianwei Electronic is a manufacturer and wholesaler of electronic components. The Company was founded in August 2001 and is located in Chengdu, China.

In FY 2020, Sichuan Tianwei Electronic garnered a total revenue of RMB 234.9 mln, up 55% YoY. In terms of net income, it achieved RMB 112.72 mln, rising 150% YoY. In Q1 2021, the company reported revenue of RMB 50 mln, a YoY increase of 21%, and its net profits reached RMB 28.54 mln, up 63% YoY.

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