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06677 遠洋服務控股
Sino-Ocean Service Holding
Listing Date2020/12/17
Listing Price5.880
 
Quote
  • 3.920 -0.070 (-1.754%)    Sink Below Listing Price
  • 15-min delayed, last update: 02/12/2021 17:15
Subscription Result
  • Subscription Rate
    8.91x
  • Guarantee One Lot Size
    9 lot
  • One Lot Success Rate
    15%
COMPANY PROFILE

Sino-Ocean Service Holding is a comprehensive property management service provider with extensive geographic coverage in the PRC. . According to China Index Academy, the Group ranked 13th and 11th among the Top 100 Property Management Companies in China in terms of overall strength and growth potential in 2019, respectively. It ranked 13th and 11th among the Top 100 Property Management Companies in China in terms of overall strength and growth potential in 2019, respectively.

Headquartered in Beijing, it has a strong presence in the Beijing-Tianjin-Hebei region and the Bohai Rim region, and its GFA under management in each of these two regions accounted for 32.9% and 28.8% of its total GFA under management as of June 30, 2020, respectively.

As of June 30, 2020, the Group total contracted GFA reached 61.9 million sq.m., covering 54 cities across 24 provinces, municipalities and autonomous regions in China, and it managed 210 properties in China with a total GFA under management of 42.3 million sq.m., including 155 residential communities and 55 non-residential properties.

The Group property management services cover a wide range of property types, including residential communities, commercial properties (such as office buildings, shopping malls and hotels) and public and other properties (such as hospitals, public service facilities, government buildings and schools). In addition to property management services, it provides value-added services to non-property owners, including pre-delivery services, consultancy services and property engineering services to property developers and other property management companies.

During the past 3 financial years and 6 months period ended 30 Jun 2020, the properties under its management were developed or owned mainly by the Sino-Ocean Group (including its joint ventures and associates) and its substantial shareholder, while the rest were developed or owned by other third parties.

BASIC INFORMATION
MarketHong Kong (Main Board)
Business NatureProperties
Websitewww.sinooceanservice.com.cn
Board Lot500
Registrar & Transfer OfficeTricor Investor Services
GLOBAL OFFERING
No. of Offer Shares296m shares
No. of International Offer Shares266m shares
No. of HK Offer Shares29.60m shares
Offer Price$5.50 - $6.70
Nominal ValueHK$ 0.10 each
Stock Code6677
Joint SponsorsCitigroup Global Markets Asia, China International Capital Corporation Hong Kong Securities
Joint Global Coordinators, Joint Bookrunners and Joint Lead ManagersCitigroup Global Markets Asia, China International Capital Corporation Hong Kong Securities, The Hongkong and Shanghai Banking Corporation
Joint Bookrunners and Joint Lead ManagersABCI Capital, ABCI Securities, BOCI Asia, Citigroup Global Markets, CLSA, CMB International Capital, Haitong International Securities, ICBC International Capital, ICBC International Securities, Silk Road International Capital
Joint Lead ManagersFutu Securities International (Hong Kong), Sinomax Securities
TIME TABLE
Application PeriodDec 7 (Mon) - Noon, Dec 10 (Thu)
Price Determination DateOn or Before 5pm, Dec 10 (Thu)
Result Announcement DateOn or Before Dec 16 (Wed)
Dispatch of Shares and Refund ChequesOn or Before Dec 16 (Wed)
Dealings in Shares commence onDec 17, 2020. (Thu)
Reallocation of Shares Offered
Times of HK Offer Shares Subscription15X - 50X50X - 100XOver 100X
% of total shares reallocated to HK Offer30%40%50%
DIRECTORS
ExecutiveYANG Deyong (Joint Chairman), ZHU Geying
Non-ExecutiveCUI Hongjie (Joint Chairman), ZHU Xiaoxing
Independent Non-ExecutiveGUO Jie, XUE Jun, ZHU Lin
MAJOR SHAREHOLDERS
Sino-Ocean Group (03377) 67.57%
INCOME STATEMENT (RMB'000)
(Year ended Dec 31)
2020 *20192018
Revenue903,6941,829,5751,610,309
Gross Profit257,116376,679322,997
Pre-Taxed Profit197,734266,404185,410
Attributable Profit for the period150,766206,504137,153
* For the six months ended June 30, 2020.
OFFER STATISTICS (HK$)
Offer Price$5.50 - $6.70
Capitalization$6,512m - $7,933m
Unaudited pro forma adj NAV / share$1.55 - $1.85
USE OF PROCEEDS
Assuming the offer price being at the mid-point of $6.10, the net proceeds raised would be HK$1,697.9m, of which:
* $1,018.8m (60.0%) to pursue selective strategic investment and acquisition opportunities and to further develop strategic alliances ;
* $339.6m (20.0%) to develop smart community through upgrading of systems for smart management ;
* $169.8m (10.0%) to enhance our level of digitization and internal information technology infrastructure; and
* the balance of $169.8m (10.0%) as additional working capital.
RELATED STOCK COMPARISON
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00873SHIMAO SERVICESdown9.140-0.050-0.544%
01417RIVERINE CHINAunchange1.8300.0000.000%
01538ZHONG AO HOMEunchange0.6100.0000.000%
01755S-ENJOY SERVICEdown13.280-0.540-3.907%
01778COLOUR LIFEunchange1.1600.0000.000%
01895XINYUAN PMunchange2.0180.0000.000%
01941YE XING GROUPdown0.760-0.020-2.564%
01995CIFI ES SERVICEdown13.160-0.140-1.053%
02168KAISA PROSPERdown13.400-0.160-1.180%
02669CHINA OVS PPTdown7.470-0.010-0.134%
02869GREENTOWN SERup7.4200.0901.228%
03319A-LIVINGdown18.200-0.060-0.329%
03377SINO-OCEAN GPup1.9300.0703.763%
03662AOYUAN HEALTHYup3.1100.0100.323%
06049POLY PPT SERdown51.700-0.050-0.097%
06093HEVOL SERVICESdown4.220-0.020-0.472%
06098CG SERVICESdown46.650-0.400-0.850%
06677SINO-OCEAN SERVdown3.920-0.070-1.754%
06958ZHENRO SERVICESdown4.640-0.070-1.486%
09909POWERLONG CMup16.4800.0800.488%
09983CC NEW LIFEup5.0600.0400.797%
15-min delayed, last updated: 02/12/2021 17:15
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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