Equity· IPO

CanSino Biologics’s IPO debut on SSE STAR Market today

minutes 2020/08/13 02:55:05

Aug 13, 2020 (China Knowledge) - CanSino Biologics (688185) to start trading on the Shanghai STAR Market today, at a public offering price of RMB 209.71 per share, raising RMB 5.2 bln. Its initial listing shares account for 10% of total outstanding shares. The company’s initial price-to-earning ratio (PE) stands at 0.

CITIC Securities, China International Capital Corporation (CICC) acted as the lead underwriter, and CITIC Securities served as the sponsor for the IPO.

Earlier, CanSino Biologics said its IPO was 2,979 times oversubscribed. Since 2019 to date, A-shares IPOs achieved median oversubscription of 2,373 times and the highest at 8,375 times. For subsequent 30-day trading the performances can be obtained from our China IPO Weekly.

CanSino Biologics Inc is a clinical-stage vaccine company in China. The Company's products include Ad5-EBOV vaccine used for Ebola virus, MCV2 and MCV4 vaccines for meningococcus, PBPV vaccine used for pneumococcal and the recombinant novel coronavirus vaccine. Its products are mainly used in meningitis, diphtheria pertussis tetanus (DPT) and pneumonia.

In financial year 2019, CanSino Biologics garnered a total revenue of RMB 2.28 mln, down 19% YoY. In terms of net income, it achieved RMB -157 mln, down 13% YoY. Accordingly, return on equity (ROE) and return on asset (ROA) stood at -15.89% and -12.15% respectively, earning per share (EPS) of -0.76 RMB.

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