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IPO Detail
02502 金源氫化
JINYUAN HCHEM
Listing Date2023/12/20
Listing Price1.200
 
Quote
  • 0.800 0.000 (0.000%)    Sink Below Listing Price
  • 15-min delayed, last update: 18/04/2024 17:59
Subscription Result
  • Subscription Rate
    42.82x
  • Guarantee One Lot Size
    7 lot
  • One Lot Success Rate
    68.01%
COMPANY PROFILE

Henan Jinyuan Hydrogenated Chemicals Co., is a supplier of hydrogenated benzene-based chemicals and energy products in Henan province, primarily focusing on the production and processing of hydrogenated benzene-based chemicals, which principally include pure benzene, toluene and xylene; and energy products comprising LNG and coal gas.

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According to report, based on revenue in 2022, it was the largest pure benzene supplier in Henan province with a market share of 18.6%, with the market size of pure benzene in Henan province accounting for 3.4% of the market share in China; and the third largest LNG supplier in Henan province with a market share of 4.9%, with the market size of LNG in Henan province accounting for 1.8% of the market share in China.

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During the period comprising FY2020, FY2021, FY2022 and 6M2023, the Group mainly sold LNG to industrial users, trading customers and retail customers at oil and gas stations. It operated six oil and gas stations stationed in Jiyuan city, Henan province, among which four of them are equipped with LNG refueling facilities.

BASIC INFORMATION
MarketHong Kong (Main Board)
Business NatureChemicals
Major Business AreaChina
Board Lot2000
GLOBAL OFFERING
No. of Offer Shares238.91M H shares
No. of International Offer Shares167.24M H shares
No. of HK Offer Shares71.67M H shares
Offer Price$1.10 - $1.50
Stock Code2502
Sponsor(s)Haitong International Capital Limited
Underwriter(s)Haitong International Securities Company Limited, CCB International Capital Limited, ABCI Securities Company Limited, Central China International Capital Limited, China Everbright Securities (HK) Limited, China Galaxy International Securities (Hong Kong) Co., Limited, CMB International Capital Limited, ICBC International Securities Limited, Livermore Holdings Limited, Maxa Capital Limited, Shenwan Hongyuan Securities (H.K.) Limited, UOB Kay Hian (Hong Kong) Limited, Huaan Securities (Hong Kong) Brokerage Limited
TIME TABLE
Application PeriodDec 12 (Tue) - noon, Dec 15 (Fri)
Price Determination DateDec 18 (Mon)
Result Announcement DateOn or before Dec 19 (Tue)
Result Announcement DateOn or before Dec 19 (Tue)
Result Announcement DateOn or before Dec 20 (Wed)
Dealings in Shares commence onDec 20, 2023. (Wed)
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$1.10 - $1.50
Capitalization (H Shares)262.80M - 358.40M
NAV / share ($)$1.03 - $1.14 (Unaudited pro forma adj NAV / share)
Use Of Proceeds
Assuming the offer price being at HKD 1.30, the net proceeds raised would be HKD 269.10M, of which
85% : Construction of six to10 additional gas stations with hydrogen refuelling facilities in Zhengzhou
5% : Investment in and/or acquisition of selected upstream and downstream market players
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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