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02376 魯商服務
Listing Date2022/07/08
Listing Price5.920
  • 2.220 -0.130 (-5.532%)    Sink Below Listing Price
  • 15-min delayed, last update: 24/03/2023 18:00
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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.

MarketHong Kong (Main Board)
Business NatureProperties
Major Business AreaChina
Board Lot500
No. of Offer Shares33.34M H shares
No. of International Offer Shares30.01M H shares
No. of HK Offer Shares3.33M H shares
Offer Price$5.30 - $7.92
Stock Code2376
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
Application PeriodJun 27 (Mon) - noon, Jun 30 (Thu)
Price Determination DateJun 30 (Thu)
Result Announcement DateOn or before Jul 07 (Thu)
Result Announcement DateOn or before Jul 07 (Thu)
Dealings in Shares commence onJul 08, 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$5.30 - $7.92
Capitalization706.70M - 1.06B
NAV / share ($)$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
Remark: The above information is referenced from the prospectus.
  All data is calculated from the non- exercise rights(if applicable).
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