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IPO Detail
01489 GC CONSTRUCTION
GC CONSTRUCTION
Listing Date2022/10/10
Listing Price0.500
 
Quote
  • 0.495 -0.015 (-2.941%)    Sink Below Listing Price
  • 15-min delayed, last update: 29/11/2022 11:52
Subscription Result
  • Subscription Rate
    7.58x
  • Guarantee One Lot Size
    10 lot
  • One Lot Success Rate
    50.05%
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
MarketHong Kong (Main Board)
Business NatureConstruction
Major Business AreaHong Kong
Board Lot5000
GLOBAL OFFERING
No. of Offer Shares250.00M shares
No. of Public Offer Shares25.00M shares
No. of Placing Shares225.00M shares
Offer Price$0.50 - $0.54
Stock Code1489
Sponsor(s)Grande Capital Limited
Underwriter(s)China Tonghai Securities Limited, Realord Asia Pacific Securities Limited, Chief Securities Limited, Sinomax Securities Limited, CSFG International Securities Limited
TIME TABLE
Application PeriodSep 23 (Fri) - noon, Sep 28 (Wed)
Price Determination DateSep 29 (Thu)
Result Announcement DateOn or before Oct 07 (Fri)
Result Announcement DateOn or before Oct 07 (Fri)
Dealings in Shares commence onOct 10, 2022. (Mon)
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$0.50 - $0.54
Capitalization500.00M - 540.00M
NAV / share ($)$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
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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