Taixing listed 950 million yuan per hand 3838 admission
Hong Kong’s well-known chain food group Taixing (Xinhua stock code: 06811) will be listed on the Main Board at the same time as its 30th anniversary. It plans to issue 250 million shares and raise funds of up to RMB 950 million. The IPO price per share ranges from RMB 2.8 to RMB 3.8. (1,000 shares) admission fee is about 3,838 yuan.
The company will be offering shares at noon from today (30th) to next Tuesday (4th) and is scheduled to be officially listed on June 13. BOCOM International is the sole sponsor.
It is planned to open 105 branches in 3 years.
In terms of food and beverage stocks, the P/E ratio of the market capitalization of about 11.1 billion yuan (00341) is about 24 times the most expensive, while Taixing, which is valued at about 3.5 billion yuan, is closely followed by a price-to-earnings ratio of about 17 to 20 times. When Cuihua (01314) went public in 2012, its price-earnings ratio was as high as 30 times, making it the most expensive food stock in history.
Taixing’s profit from 2016 to 2018 was 197 million, 210 million and 305 million yuan respectively. The revenue during the period was 2.513 billion, 2.771 billion and 3.126 billion yuan respectively.
Huang Weihao, director of the research department of Zhongmin Securities (Hong Kong), said that Taixing’s listing is worthy of attention. At present, many sectors are subject to fluctuations in Sino-US trade wars, and consumption and domestic demand stocks can just avoid the impact of trade wars. He added that Cuihua had a good performance at the beginning of the listing. It is not expected to be disappointing after the listing of Taixing.
For Tsui Wah earlier issued a profit warning, Tai Hing Chairman Chen Yongan said that he is not worried about the prospects of the catering industry. The Group’s advantage lies in its diversified products, which are spread across Hong Kong, Southeast Asia and Taiwan. Executive Director Chen Shufen said that after the listing of the company, it will expand 105 stores in the next three years. About 70 stores will be added in Hong Kong. The remaining one-third will be distributed in the Greater Bay Area, the first-tier cities in the Mainland and Taiwan. Chen Yongan added confidence in the speed of opening, and predicted that the group will develop high-end ice hall.
For other new shares, Hong Kong residential care home operator Jia Tao (Hong Kong) Holdings (New Share No.: 02189) will be listed on the Main Board and plans to sell 250 million shares. The offer price ranges from 0.6 to 0.64 yuan per share, raising up to 160 million yuan. The admission fee for one lot (4,000 shares) is 2,586 yuan. Jia Tao is offering shares today and next Tuesday and plans to officially list on June 13. The sole sponsor is Dingsheng Securities.
Home for the Elderly, Jia Tao, settled in the activation of the industrial building
Wei Shicheng, Chief Executive Officer and Executive Director of Jiatao (Hong Kong) Holdings, said that the site selection of residential care homes will be taken into account when the listing is completed. Site selection will give priority to areas with long bed waiting times and high demand, such as Sha Tin, Hong Kong Island East, Kwun Tong, etc. He pointed out that the activation of industrial buildings is one of the considerations. The number of beds can be as high as 500 to 600, which is more than 100 beds in general homes. The living environment of the elderly is also more comfortable. He also pointed out that in the future, new residential care homes will participate in the “Improve Bought Place Scheme" to ensure the occupancy rate and quality of service.
Mainland China’s vocational skills education provider China Oriental Education (New Share No.: 00667), plans to sell about 435 million shares, the offer price ranged from 9.8 to 12.26 yuan, the capital raised amounted to 5.34 billion yuan, and the first-hand (500 shares) admission fee was 6,192 yuan. The IPO will be listed next Tuesday and is expected to be listed on June 12. Faba is the sole sponsor.