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Blue Moon (new listing code: 06993) plans to sell 747 million shares. The offer price ranges from 10.2 yuan to 13.16 yuan. The maximum raised fund is 9.83 billion yuan. The admission fee for one lot (500 shares) is 6646 yuan. Blue Moon will be held on December 4th (Friday) at the IPO on December 9th and listing on the 16th. Bank of America, CICC and Citigroup are joint sponsors.
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Blue Moon Business Chart
The company has introduced six key investors, including BOCHK Asset Management, Public (Hong Kong) International, Fullerton Funds, Yitian Investment, Poly Platinum Enterprises and Veritas Asset Management LLP, who have subscribed for a total of HK $ 1.821 billion.
UBS, one of the underwriters, valued Blue Moon at 78 to 93.6 billion yuan. The report believes the downside risk is the risk that industry competition may not pass the commodity rise in 2021. The report pointed out that the company’s investment in offline marketing and the increase in sales staff will increase upside risks.
The bank expects Blue Moon’s revenue to grow 14%, 29%, and 19% year-over-year from 2020 to 2022, primarily due to the company’s further penetration into lower tier cities and rapid growth in personal hygiene. and home care products.
Blue Moon was founded in 1992 as a well-known laundry detergent brand on the mainland. According to the Frost & Sullivan report, the Group has been number one in the Chinese laundry detergent market for 10 consecutive years since 2011. Since last year, net profit has increased 95% year on year to 1.08 billion yuan ; revenues increased 4.2% year on year to 7.05 billion yuan.
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Blue Moon currently mainly produces laundry detergents, hand sanitizers and sanitary cleaners. At the end of 2019, in terms of retail sales, Blue Moon holds the largest market share in the laundry detergent market, the concentrated laundry detergent market and the hand sanitizer market respectively. 24.4%, 27.9% and 17.4%.
35.6% of the group’s fundraising proceeds were used for business expansion, 52.4% for brand awareness, product penetration and strengthening of sales and distribution networks, 10 % for working capital and other general business purposes and 2% for improving the company’s research and development capabilities.
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Responsible editor: Xie Zhuorong
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