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IPO Detail
01407 交運燃氣
JY GAS
Listing Date2022/11/16
Listing Price1.420
 
Quote
  • 0.880 -0.010 (-1.124%)    Sink Below Listing Price
  • 15-min delayed, last update: 31/01/2023 17:59
Subscription Result
  • Subscription Rate
    7.15x
  • Guarantee One Lot Size
    7 lot
  • One Lot Success Rate
    30%
COMPANY PROFILE

JY GAS Limited is a natural gas operator with over 16 years of experience. It operates in Gaomi City, Weifang Municipality of Shandong Province, which has a residential population of approximately 895,000 people as of 2021. Its revenue from (i) the sale of PNG, primarily through urban pipeline network to its PNG end-users in our Operating Area; (ii) the sale of CNG and LNG at CNG and LNG refuelling stations; (iii) the provision of construction and installation services; and (iv) the sale of gas-burning appliances.

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The Group have an exclusive right under its Concession Agreement with Gaomi City Bureau of Municipal Affairs Administration to operate PNG sales and related businesses within its Operating Area, for an effective term of 30 years from 18 August 2009. Its operating Area under the Concession represented approximately 70% of the total administrative area of Gaomi City. Its PNG suppliers are PetroChina and Shandong Shihua (which is owned by Sinopec as to 50%).

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Its PNG customers are primarily retail, consisting of residential, commercial and industrial PNG end-users. It also engages in the sale of CNG and LNG, provision of construction and installation services and sale of gas-burning appliances.

BASIC INFORMATION
MarketHong Kong (Main Board)
Business NatureUtilities
Major Business AreaChina
Board Lot2000
GLOBAL OFFERING
No. of Offer Shares110.00M shares
No. of International Offer Shares99.00M shares
No. of HK Offer Shares11.00M shares
Offer Price$1.42 - $1.62
Stock Code1407
Sponsor(s)China Industrial Securities International Capital Limited
Underwriter(s)China Industrial Securities International Capital Limited, ABCI Securities Company Limited, ICBC International Securities Limited, CCB International Capital Limited, BOCOM International Securities Limited, CEB International Capital Corporation Limited, CMBC Securities Company Limited, SPDB International Capital Limited, Zhongtai International Securities Limited, China Everbright Securities (HK) Limited, SBI China Capital Financial Services Limited, Livermore Holdings Limited, Valuable Capital Limited, Maxa Capital Limited
TIME TABLE
Application PeriodOct 31 (Mon) - noon, Nov 07 (Mon)
Price Determination DateNov 07 (Mon)
Result Announcement DateOn or before Nov 15 (Tue)
Result Announcement DateOn or before Nov 15 (Tue)
Dealings in Shares commence onNov 16, 2022. (Wed)
Reallocation of Shares Offered
Times of HK Offer Shares Subscription15X - 50X50X - 100XOver 100X
% of total shares reallocated to HK Offer30%40%50%
Sales Statistics (HKD)
Offer Price$1.42 - $1.62
Capitalization624.80M - 712.80M
NAV / share ($)$0.54 - $0.59 (Unaudited pro forma adj NAV / share)
Use Of Proceeds
Assuming the offer price being at HKD 1.52, the net proceeds raised would be HKD 122.20M, of which
48.5% : Expanding sale of PNG business through construction of new mid-pressure pipelines of approximately 101.0 km
20.5% : Upgrading approximately 43.4 km of urban pipeline network
6.9% : Replacing existing gas meters with Goldcard Meters for over 19,500 households
14.1% : Construction of an aggregate of 18 km PNG end-user pipelines
10% : Working capital
Related Document
Remark: The above information is referenced from the prospectus.
  All data is calculated from the non- exercise rights(if applicable).
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