02152 蘇新服務
SUXIN SERVICES
SUXIN SERVICES
| Listing Date | 2022/08/24 |
| Listing Price | 8.600 |
Quote
Subscription Result
- Subscription Rate0.71x
- Guarantee One Lot Size1 lot
- One Lot Success Rate100%
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IPO Detail
COMPANY PROFILE
Suxin Joyful Life Services is a city service and property management service provider deeply rooted in the Yangtze River Delta Region, especially in Suzhou. In 2021, it ranked first in both the property management service market in Suzhou in terms of total revenue and the city service market in Suzhou in terms of revenue from city services, and also ranked third and fifth in terms of revenue from city services in Jiangsu Province and revenue from non-residential property management services in Jiangsu Province, respectively, according to F&S.
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The Group offers city services for public infrastructure and facilities, as well as basic property management services and value-added services to commercial properties and residential communities. Its city services include municipal infrastructure services; public facility management services; and operation of waste collection centers.
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As of April 30, 2022, the Group was contracted to provide public facility management services, basic commercial property management services and basic residential property management services to 78 projects in China, with a total contracted GFA of 8 million sq.m., among which 77 projects with a total GFA of over 6.8 million sq.m. were under its management.
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It had constructed and operated two waste collection centers in Suzhou. It was also in the process of constructing one additional waste collection center in Suzhou which are expected to be put into operation in the early 2023. Such three waste collection centers in aggregate would be capable of processing a total of 1,200 tons of household waste per day and 50 tons of bulky waste per day.
BASIC INFORMATION
| Market | Hong Kong (Main Board) |
| Business Nature | Properties |
| Major Business Area | China |
| Board Lot | 500 |
GLOBAL OFFERING
| No. of Offer Shares | 25.00M H shares |
| No. of International Offer Shares | 23.23M H shares |
| No. of HK Offer Shares | 1.77M H shares |
| Offer Price | $8.60 - $9.60 |
| Stock Code | 2152 |
| Sponsor(s) | BOCOM International (Asia) Limited |
| Underwriter(s) | BOCOM International Securities Limited, Shenwan Hongyuan Securities (H.K.) Limited, Haitong International Securities Company Limited, China Everbright Securities (HK) Limited, CEB International Capital Corporation Limited, CMBC Securities Company Limited, Zhongtai International Securities Limited, Essence International Securities (Hong Kong) Limited, ABCI Securities Company Limited, Maxa Capital Limited, Sinomax Securities Limited, Eddid Securities and Futures Limited |
TIME TABLE
| Application Period | Aug 11 (Thu) - noon, Aug 16 (Tue) |
| Price Determination Date | Aug 17 (Wed) |
| Result Announcement Date | On or before Aug 23 (Tue) |
| Result Announcement Date | On or before Aug 23 (Tue) |
| Dealings in Shares commence on | Aug 24, 2022. (Wed) |
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 | $8.60 - $9.60 |
| Capitalization | 860.00M - 960.00M |
| NAV / share ($) | $8.24 - $8.48 (Unaudited pro forma adj NAV / share) |
Use Of Proceeds
| Assuming the offer price being at HKD 9.1, the net proceeds raised would be HKD 179.40M, of which |
| 30% : Pursue selective acquisitions of other property management companies that focus on city services and property management services to commercial properties |
| 30% : Pursue strategic investments in waste collection centers |
| 23% : Expand and diversify property management services |
| 4% : Develop smart property management systems |
| 3% : Train and retain talent |
| 10% : working capital |
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).