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06913 中國華南職業教育集團
South China Vocational Education Group
Listing Date2021/07/13
Listing Price1.590
 
Quote
  • 1.250 0.000 (0.000%)    Sink Below Listing Price
  • 15-min delayed, last update: 29/09/2021 09:18
Subscription Result
  • Subscription Rate
    6.01x
  • Guarantee One Lot Size
    10 lot
  • One Lot Success Rate
    20%
COMPANY PROFILE

South China Vocational Education Group is a private formal vocational education services provider in China. It operated two schools in the Greater Bay Area, namely, Lingnan Institute of Technology and Lingnan Modern Technician College.

Lingnan Institute of Technology is a private vocational education institution that has two campuses, one of which is located in Guangzhou, Guangdong Province, and the other is located in Qingyuan, Guangdong Province.It primarily offers junior college program. As at Jun 2021, it had 12 secondary colleges and offered over 45 majors in a wide range of disciplines, including, but not limited to, electronic engineering technology, e-commerce, computer network technology, cloud computing technology and application, health management and pharmaceutical production technology.

Lingnan Modern Technician College is a private vocational education institution that is located in Guangzhou and that primarily offers secondary vocational program and post secondary vocational program. As at Jun 2021, had seven departments and offered over 25 majors, including, advertising design, computer network application, computer program design, digital media application and cross-border e-commerce.

It provides vocational education to 27,033 full-time students enrolled in its our schools in the 2020/2021 school year, of which 68.4% were enrolled in the TMT Industry- and Healthcare Industry-related majors.

BASIC INFORMATION
MarketHong Kong (Main Board)
Business NatureCommercial & Professional Services
Major Business AreaChina
Websitewww .lnedugroup .com
Board Lot2000
GLOBAL OFFERING
No. of Offer Shares334m shares
No. of International Offer Shares301m shares
No. of HK Offer Shares33.40m shares
Offer Price$1.59 - $2.01
Registrar & Transfer OfficeTricor Investor Services
Stock Code6913
Sponsor(s)BNP Paribas Securities (Asia) Limited
Underwriter(s)BNP Paribas Securities (Asia) Limited; Haitong International Securities Company Limited; CCB International Capital Limited; CMB International Capital Limited; Futu Securities International (Hong Kong) Limited; China Galaxy International Securities (Hong Kong) Co., Limited; Sinomax Securities Limited
TIME TABLE
Application PeriodJun 30 (Wed) - Noon, Jul 6 (Tue)
Price Determination DateOn or Before 5pm, Jul 6 (Tue)
Result Announcement DateOn or Before Jul 12 (Mon)
Dispatch of Shares and Refund ChequesOn or Before Jul 12 (Mon)
Dealings in Shares commence onJul 13, 2021. (Tue)
Reallocation of Shares Offered
Times of HK Offer Shares Subscription15X - 50X50X - 100XOver 100X
% of total shares reallocated to HK Offer30%40%50%
DIRECTORS
ExecutiveHe Huishan (Chairman), He Huifen, He Huifang, Lao Hansheng
Independent Non-ExecutiveLuo Pan, Yeh Zhe Wei, Ma Shuchao
MAJOR SHAREHOLDERS
He Huishan46.48%
He Huifen14.24%
He Huifang14.24%
INCOME STATEMENT (RMB'000)
(Year ended Dec 31)
202020192018
Revenue449,350444,387411,751
Gross Profit209,017197,154193,673
Pre-Taxed Profit175,490160,654149,445
Attributable Profit for the period170,501149,959129,794
OFFER STATISTICS (HK$)
Offer Price$1.59 - $2.01
Capitalization$2,121m - $2,681m
Unaudited pro forma adj NAV / share$1.15 - $1.26
USE OF PROCEEDS
Assuming the offer price being at the mid-point of $1.80, the net proceeds raised would be HK$527.2m, of which:
* $369.0m (70.0%) use to upgrade its Lingnan Institute of Technology from an associate college to a vocational university;
* $105.4m (20.0%) use to acquire other private formal vocational education institutions in the Greater Bay Area to expand its school network ;
* the balance of $52.7m (10.0%) as additional working capital.
RELATED STOCK COMPARISON
Code Name Nominal Change %Change
00839CHINA EDU GROUPup13.0200.0200.154%
01317MAPLELEAF EDUunchange1.4200.0000.000%
01565VIRSCEND EDUdown0.490-0.005-1.010%
01593CHEN LIN EDUunchange2.2400.0000.000%
01765HOPE EDUunchange1.2300.0000.000%
01851GINGKO EDUunchange1.3500.0000.000%
01935JH EDUCATIONunchange1.8700.0000.000%
01969CHINA CHUNLAIunchange1.4000.0000.000%
02001NEW HIGHER EDUunchange3.4400.0000.000%
03978BESTSTUDY EDUunchange0.5400.0000.000%
06068WISDOM EDU INTLunchange1.4620.0000.000%
06169YUHUA EDUunchange3.6400.0000.000%
06913SCVE GROUPunchange1.2500.0000.000%
15-min delayed, last updated: 29/09/2021 09:18
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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