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IPO Detail
02352 東原仁知服務
Listing Date2022/04/29
Listing Price11.900
  • 7.450 0.000 (0.000%)    Sink Below Listing Price
  • 15-min delayed, last update: 24/03/2023 18:00
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Dowell Services Group is a property management service provider, having been providing property management services in the PRC for over 17 years. It had business presence in two major regions in the PRC, namely, Southwestern China and Eastern China.

As at 31 December 2021, the Group had 325 property projects under management, including residential and non-residential properties, covering 51 cities, across 16 provinces, autonomous regions and municipalities in the PRC, with total GFA under management of approximately 28.2 million sq.m.. The aggregate GFA under management of residential properties and non-residential properties were approximately 20.5 million sq.m. and 7.7 million sq.m., respectively.

As at 31 December 2021, approximately 50% of the total GFA under management of the property projects that it managed were those sourced from Dima Group and Affiliated Companies. Dima shares are listed on the Shanghai Stock Exchange in the PRC.

MarketHong Kong (Main Board)
Business NatureProperties
Major Business AreaChina
Board Lot200
No. of Offer Shares16.67M H shares
No. of International Offer Shares15.00M H shares
No. of HK Offer Shares1.67M H shares
Offer Price$11.90 - $15.40
Stock Code2352
Sponsor(s)Guotai Junan Capital Limited
Underwriter(s)Guotai Junan Securities (Hong Kong) Limited, ABCI Securities Company Limited, BOCOM International Securities Limited, CLSA Limited, ICBC International Securities Limited, CMBC Securities Company Limited, China Everbright Securities (HK) Limited, Fortune (HK) Securities Limited, Futu Securities International (Hong Kong) Limited, Guosen Securities (HK) Capital Company Limited, Zheshang International Financial Holdings Co., Limited, Merdeka Securities Limited
Application PeriodApr 19 (Tue) - noon, Apr 22 (Fri)
Price Determination DateApr 22 (Fri)
Result Announcement DateOn or before Apr 28 (Thu)
Result Announcement DateOn or before Apr 28 (Thu)
Dealings in Shares commence onApr 29, 2022. (Fri)
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$11.90 - $15.40
Capitalization (H Shares)198.33M - 256.67M
NAV / share ($)$4.61 - $5.46 (Unaudited pro forma adj NAV / share)
Use Of Proceeds
Assuming the offer price being at HKD 13.65, the net proceeds raised would be HKD 189.60M, of which
65% : expand property portfolio and business scale through strategic investments, cooperation and acquisition
16.5% : improve service quality and extend service offering
8.5% : upgrade and develop intelligent systems
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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