Guobang Pharma’s IPO to debut on Shanghai Stock Exchange
Jul 30, 2021 (China Knowledge) - Guobang Pharma (605507) to start trading on the Shanghai Stock Exchange's Main Board Aug 2, next Monday. The firm has issued 83.82 mln shares priced at RMB 32.57 per share raising RMB 2.73 bln. Its price-to-earnings ratio (PE) stands at 22.99. During subscription the IPO was 2,467 times oversubscribed.
Guotai Junan Securities acts as the lead underwriter and sponsor for the IPO.
Guobang Pharma is a China-based company primarily engaged in the research and development, production and sales of related products in the field of medicine and animal health. The Company operates two segments. Medicine segment covers active pharmaceutical ingredients (API), key pharmaceutical intermediates and preparations, including azithromycin raw materials, clarithromycin raw materials, ciprofloxacin raw materials (hydrochloric acid and lactic acid) and others. Animal health products segment cover animal health raw materials, animal health additives and preparations, including enrofloxacin APIs and florfenicol APIs, among others. The Company distributes its products within the domestic market and to overseas markets.
In FY 2020, Guobang Pharma garnered a total revenue of RMB 4.21 bln, up 11% YoY. In terms of net income, it achieved RMB 810.29 mln, rising 64% YoY. In Q1 2021, the company reported revenue of RMB 1.14 bln, a YoY increase of 27%, and its net profits reached RMB 185.36 mln, up 15% YoY.
Copyright © 2018 www.chinaknowledge.com
Send feedback or comments to: email@example.com
For more news, financial weekly reports, business guides to China and other premium information, subscribe to China Knowledge today: www.chinaknowledge.com
To access our page on Bloomberg, type CKFI