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IPO Detail
02481 慧居科技
WISE LIVING TEC
Listing Date2023/07/10
Listing Price3.600
 
Quote
  • 2.490 +0.020 (+0.810%)    Sink Below Listing Price
  • 15-min delayed, last update: 27/05/2024 17:59
Subscription Result
  • Subscription Rate
    1.54x
  • Guarantee One Lot Size
    1 lot
  • One Lot Success Rate
    100%
COMPANY PROFILE

Wise Living Technology Co., Ltd is a cross-provincial heat service provider mainly operating in the “Three North Region”. According to the Frost & Sullivan Report, it was ranked No. 9 in terms of the aggregate actual heat service area in Shanxi Province, Gansu Province and Inner Mongolia Autonomous Region in 2022 with a market share of approximately 2.4% in terms of aggregate actual heat service area.

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The Group is principally engaged in the provision of heat services to residential and non-residential heat service customers under concession rights. As at 16 Jun 2023, its total actual heat service area (measured in terms of GFA) was approximately 41.9 million sq.m., representing approximately 10.0% of total Concession Area of approximately 419.9 million sq.m. under its Concession Agreements.

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The Group relied on four types of heat sources for all of heat service projects under concession rights comprising heat procured from cogeneration plants; heat produced by coal-fired boilers; residual heat collected at cogeneration plants; and geothermal heat.

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In addition to provision of heat services, it also provides heat-related engineering construction services; and EMC services. It has had over a decade of operational experience since it started operation in 2010.

BASIC INFORMATION
MarketHong Kong (Main Board)
Business NatureUtilities
Major Business AreaChina
Board Lot1000
GLOBAL OFFERING
No. of Offer Shares75.60M H shares
No. of International Offer Shares68.04M H shares
No. of HK Offer Shares7.56M H shares
Offer Price$3.00 - $4.20
Stock Code2481
Sponsor(s)Guotai Junan Capital Limited, Guotai Junan Securities (Hong Kong) Limited
Underwriter(s)Guotai Junan Securities (Hong Kong) Limited, Orient Securities (Hong Kong) Limited, CEB International Capital Corporation Limited, ABCI Securities Company Limited, China Galaxy International Securities (Hong Kong) Co., Limited, Kingsway Financial Services Group Limited, Livermore Holdings Limited, Fortune (HK) Securities Limited, Selina & Co. Limited
TIME TABLE
Application PeriodJun 28 (Wed) - noon, Jul 03 (Mon)
Price Determination DateJul 03 (Mon)
Result Announcement DateOn or before Jul 07 (Fri)
Result Announcement DateOn or before Jul 07 (Fri)
Result Announcement DateOn or before Jul 07 (Fri)
Dealings in Shares commence onJul 10, 2023. (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$3.00 - $4.20
Capitalization (H Shares)226.80M - 317.50M
NAV / share ($)$-5.17 - $-4.89 (Unaudited pro forma adj NAV / share)
Use Of Proceeds
Assuming the offer price being at HKD 3.60, the net proceeds raised would be HKD 187.50M, of which
50% : Used for construction of new peak-shaving boiler (which will be a coal-fired boiler) in heat source peak-shaving station for our Lanzhou New Area Project
40% : Construction of primary distribution pipelines and heat service facilities, procurement of relevant equipment and devices for our heat service operation
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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