06959 長久股份
CHANGJIU HLDGS
CHANGJIU HLDGS
| Listing Date | 2024/01/09 |
| Listing Price | 5.950 |
Quote
Subscription Result
- Subscription Rate11.67x
- Guarantee One Lot Size8 lot
- One Lot Success Rate20.12%
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IPO Detail
COMPANY PROFILE
Changjiu Holdings provides pledged vehicle monitoring services and automobile dealership operation management services in China. It offers pledged vehicle monitoring services primarily to financial institutions that provide secured financing to automobile dealerships for its purchase of vehicles; and automobile dealerships with pledged vehicles.
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According to report, it was the largest pledged vehicle monitoring service provider in China’s automobile sales and distribution industry both in terms of revenue in 2022, with a market share of 47.9%, and in terms of the number of automobile dealership users as of December 31, 2022. It had 17 years of operation history and its nationwide presence with operation in over 500 cities across 31 provinces in China.
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As of June 30, 2023, it provided pledged vehicle monitoring services to approximately 200 branches of 18 commercial banks, including all of China’s “Big Six” national state-owned commercial banks and 12 joint-stock commercial banks; 27 automobile finance companies; and 11,152 automobile dealerships.
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As of June 30, 2023, it managed a total of 75 automobile dealerships, among which 74 were owned by Changjiu Group and one was owned by an Independent Third Party.
BASIC INFORMATION
| Market | Hong Kong (Main Board) |
| Business Nature | Commercial & Professional Services |
| Major Business Area | China |
| Board Lot | 500 |
GLOBAL OFFERING
| No. of Offer Shares | 50.54M shares |
| No. of International Offer Shares | 45.49M shares |
| No. of HK Offer Shares | 5.05M shares |
| Offer Price | $5.95 - $7.90 |
| Stock Code | 6959 |
| Sponsor(s) | CITIC Securities (Hong Kong) Limited, ICBC International Capital Limited |
| Underwriter(s) | CLSA Limited, ICBC International Securities Limited, CEB International Capital Corporation Limited, BOCOM International Securities Limited, SPDB International Capital Limited, Patrons Securities Limited, CMB International Capital Limited, Zhongtai International Securities Limited, UOB Kay Hian (Hong Kong) Limited, Tiger Brokers (HK) Global Limited, Livermore Holdings Limited, Valuable Capital Limited |
TIME TABLE
| Application Period | Dec 29 (Fri) - noon, Jan 04 (Thu) |
| Price Determination Date | Jan 05 (Fri) |
| Result Announcement Date | On or before Jan 08 (Mon) |
| Result Announcement Date | On or before Jan 08 (Mon) |
| Result Announcement Date | On or before Jan 09 (Tue) |
| Dealings in Shares commence on | Jan 09, 2024. (Tue) |
Reallocation of Shares Offered
| Times of HK Offer Shares Subscription | 15X - 50X | 50X - 100X | Over 100X |
| % of total shares reallocated to HK Offer | 30% | 40% | 50% |
Sales Statistics (HKD)
| Offer Price | $5.95 - $7.90 |
| Capitalization | 1.20B - 1.60B |
| NAV / share ($) | $1.62 - $2.09 (Unaudited pro forma adj NAV / share) |
Use Of Proceeds
| Assuming the offer price being at HKD 6.93, the net proceeds raised would be HKD 313.00M, of which |
| 35% : Improve pledged vehicle monitoring services |
| 30% : Develop an integrated supporting system for the automobile sales and distribution industry |
| 15% : Expand automobile dealership operation management capacity |
| 10% : Expand sales and marketing capacity; |
| 10% : Working capital |
Related Document
| Prospectus |  Chinese Version | English Version |
| Remark： | The above information is referenced from the prospectus. |
| All data is calculated from the non- exercise rights(if applicable). |
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*Admission fees include brokerage of 1%, SFC transaction levy of 0.0027%, Stock Exchange trading fee of 0.005% and FRC transaction levy of 0.00015% (i.e. 1.0077% in total).