01489 GC CONSTRUCTION
GC CONSTRUCTION
GC CONSTRUCTION
| Listing Date | 2022/10/10 |
| Listing Price | 0.500 |
Quote
Subscription Result
- Subscription Rate7.58x
- Guarantee One Lot Size10 lot
- One Lot Success Rate50.05%
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IPO Detail
COMPANY PROFILE
GC Construction Holdings is a wet trades contractor in Hong Kong. It was established in 2005 and have since undertaken wet trades works in the role of subcontractor. Its business is carried out by two principal operating subsidiaries, Chan Kiu and Ying Wai. The wet trades works mainly included plastering, tile laying, brick laying, floor screeding and marble works.
According to the Industry Report, the Group ranked the first in the Hong Kong wet trades works subcontracting market in terms of revenue in 2021, and accounted for approximately 4% of the market share in 2021.
The Group was mainly engaged in private sector projects in Hong Kong. It mainly involved private residential developments and commercial developments. To a lesser extent, it was also engaged in public sector projects in Hong Kong. It mainly involved public residential developments as well as infrastructure and public facilities developments.
As at 15 Sept 2022, the Group had 43 projects on hand with an aggregate of approximately HK$872.2 million yet to be recognized, among which, approximately HK$493.4 million and HK$378.8 million are expected to be recognised as revenue for FY2022/23 and FY2023/24 onwards, respectively.
BASIC INFORMATION
| Market | Hong Kong (Main Board) |
| Business Nature | Construction |
| Major Business Area | Hong Kong |
| Board Lot | 5000 |
GLOBAL OFFERING
| No. of Offer Shares | 250.00M shares |
| No. of Public Offer Shares | 25.00M shares |
| No. of Placing Shares | 225.00M shares |
| Offer Price | $0.50 - $0.54 |
| Stock Code | 1489 |
| Sponsor(s) | Grande Capital Limited |
| Underwriter(s) | China Tonghai Securities Limited, Realord Asia Pacific Securities Limited, Chief Securities Limited, Sinomax Securities Limited, SDHG International Securities Limited |
TIME TABLE
| Application Period | Sep 23 (Fri) - noon, Sep 28 (Wed) |
| Price Determination Date | Sep 29 (Thu) |
| Result Announcement Date | On or before Oct 07 (Fri) |
| Result Announcement Date | On or before Oct 07 (Fri) |
| Dealings in Shares commence on | Oct 10, 2022. (Mon) |
Reallocation of Shares Offered
| Times of HK Offer Shares Subscription | 15X - 50X | 50X - 100X | Over 100X |
| % of total shares reallocated to HK Offer | 30% | 40% | 50% |
Sales Statistics (HKD)
| Offer Price | $0.50 - $0.54 |
| Capitalization | 500.00M - 540.00M |
| NAV / share ($) | $0.25 - $0.26 (Unaudited pro forma adj NAV / share) |
Use Of Proceeds
| Assuming the offer price being at HKD 0.52, the net proceeds raised would be HKD 97.00M, of which |
| 73% : Financing the up-front costs of projects |
| 10.8% : Expanding manpower and leasing an additional office |
| 2.9% : Purchasing machinery and motor vehicles |
| 2.1% : Procuring an enterprise resources planning system |
| 1.5% : purchasing planks and toe-boards to strengthen occupational safety |
| 9.7% : Working capital |
IPO NEWS
| 10/10/2022 16:08 |
| {New Stock}GC CONSTRUCTION(01489) ends up 10% at HK$0.55 |
| 10/10/2022 09:20 |
| {New Stock}GC CONSTRUCTION(01489) opens up 24% at HK$0.62 |
| 07/10/2022 18:35 |
| {New Stock}GC CONSTRUCTION(01489) ends up 24% on grey market |
| 07/10/2022 16:20 |
| {New Stock}GC CONSTRUCTION up 30% at HK$0.65 on grey market |
Related Document
| Prospectus |  Chinese Version | English Version |
| Remark： | The above information is referenced from the prospectus. |
| All data is calculated from the non- exercise rights(if applicable). |
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*Admission fees include brokerage of 1%, SFC transaction levy of 0.0027%, Stock Exchange trading fee of 0.005% and FRC transaction levy of 0.00015% (i.e. 1.0077% in total).