China Spicy Food Company Wei Long went to the main board of the Hong Kong Stock Exchange on Thursday (December 15). On the first day of the listing, the issue price fell below the issue price, and then the stock price fluctuated.As of 12 noon, Wei Long Pao was HK $ 10.40 per share (below, about S $ 1.8), a drop of more than 1%.
According to Caixin.com, Wei Long's IPO issuance price was HK $ 10.56, with a total of 96.397 million shares, raising funds of HK $ 1.018 billion, deducting relevant costs such as issuance, and the net fundraising approximately HK $ 899 millionEssence
According to the prospectus issued by Wei Long on December 5, the prospectus scope is set to HK $ 10.4 to HK $ 11.4, and it is planned to raise funds from HK $ 1.03 billion to HK $ 1.099 billion.Wei Long's final pricing is located in the lower limit range.
In the release of new shares, 10%are public offerings in Hong Kong, 90%are international offering, and 15%have excess equity.Both the public offering and international public offering of Hong Kong received excess subscriptions, about 15.3 times and 2.6 times the planned planned.Considering that the excess subscription multiples of the public offering of Hong Kong are between 15 and 50 times, 192.794 million shares of international offering are re -distributed to Hong Kong to be released.
After public issuance, Wei Long's first and secondary market valuations are upside down.At present, Weilong's market value is about HK $ 24.827 billion, and the corresponding static price -earnings ratio is about 30 times.In March 2021, the overall valuation of more than 60 billion yuan (about S $ 12 billion) after the PRE-IPO financing was 73 times the static price-earnings ratio at that time.
According to the prospectus, 57%of Wei Long's IPO funds will be used to expand and upgrade the production facilities and supply chain systems. The rest will be used to expand sales networks, brand construction, product development, andIntelligent construction of business digital.Morgan Stanley, CICC, and UBS group are the joint sponsor of Wei Long's IPO.
Wei Long is China's largest spicy casual food company. It was founded by the brothers of Liu Weiping and Liu Fuping in 2001.On May 12, 2021, Wei Long submitted to the Hong Kong Stock Exchange and passed the hearing on November 15 of that year.According to the prospectus, after the company was listed, Liu Weiping and Liu Fuping held 80.99%of the shares with Global Capital to control the company.
According to Ferrisana, the Chinese spicy and leisure food market is relatively scattered.In 2021, the scale of China's spicy and casual food market is about 172.9 billion yuan, and it is expected to reach 273.7 billion yuan in 2026, with a compound annual growth rate of 9.6%.
