02376 魯商服務
LUSHANGSERVICES
LUSHANGSERVICES
| Listing Date | 2022/07/08 |
| Listing Price | 5.920 |
Quote
Subscription Result
- Subscription Rate7.39x
- Guarantee One Lot Size30 lot
- One Lot Success Rate33%
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IPO Detail
COMPANY PROFILE
Lushang Life Services is a comprehensive property management service provider. Headquartered in Jinan, Shandong Province, it has, through over 15 years of development since its inception in 2006, expanded its coverage to nearly all prefecture-level cities in Shandong Province and to Beijing and Harbin.
According to CIA, its Group’s market share among the Top 100 Property Management Companies in the PRC in terms of GFA under management as of December 31, 2021 was approximately 0.16% and its market share in Shandong Province in terms of GFA under management as of the same date was approximately 1%.
The generated revenue primarily from three business lines: property management services, value-added services to non-property owners, and community value-added services.
Lushang Development Group is its Controlling Shareholder. It is a comprehensive property developer listed on the Shanghai Stock Exchange (600223). As of December 31, 2021, 45 properties under its management were developed by Lushang Development Group with a total GFA under management of 12.4 million sq.m., representing 54.3% of its total GFA under management.
BASIC INFORMATION
| Market | Hong Kong (Main Board) |
| Business Nature | Properties |
| Major Business Area | China |
| Board Lot | 500 |
GLOBAL OFFERING
| No. of Offer Shares | 33.34M H shares |
| No. of International Offer Shares | 30.01M H shares |
| No. of HK Offer Shares | 3.33M H shares |
| Offer Price | $5.30 - $7.92 |
| Stock Code | 2376 |
| Sponsor(s) | ABCI Capital Limited |
| Underwriter(s) | ABCI Securities Company Limited, Zhongtai International Securities Limited, China International Capital Corporation Hong Kong Securities Limited, GF Securities (Hong Kong) Brokerage Limited, China Everbright Securities (HK) Limited, Guotai Junan Securities (Hong Kong) Limited, CMBC Securities Company Limited, Yue Xiu Securities Company Limited, China Chengtong (Hong Kong) Asset Management Company Limited, Fortune (HK) Securities Limited, Eddid Securities and Futures Limited, Livermore Holdings Limited, Valuable Capital Limited |
TIME TABLE
| Application Period | Jun 27 (Mon) - noon, Jun 30 (Thu) |
| Price Determination Date | Jun 30 (Thu) |
| Result Announcement Date | On or before Jul 07 (Thu) |
| Result Announcement Date | On or before Jul 07 (Thu) |
| Dealings in Shares commence on | Jul 08, 2022. (Fri) |
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 | $5.30 - $7.92 |
| Capitalization | 706.70M - 1.06B |
| NAV / share ($) | $3.62 - $4.25 (Unaudited pro forma adj NAV / share) |
Use Of Proceeds
| Assuming the offer price being at HKD 6.61, the net proceeds raised would be HKD 160.60M, of which |
| 60% : For strategic cooperation, acquisitions and investments to expand business scale |
| 15% : Used to invest in technology systems and standardized business operations and develop technology supported community platform |
| 15% : Enhance property management services and further develop diversified community value added services |
| 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).