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Evergrande Property (new listing code: 06666) expects to sell approximately 1.621 billion shares, reaching a maximum of approximately 15.8 billion yuan. The offer price ranges from 8.5 yuan to 9.75 yuan. The entry fee for one lot (500 shares) is 4924 yuan. Sunday) through Thursday (26) IPO and plans to go public on December 2.
The group introduced 23 key investors, including strategic investors such as AI company SenseTime (SenseTime), China Gas (00384), China Merchants Capital, etc., who have subscribed for a total of 7.2 billion Hong Kong dollars. 48.7% of the total. Evergrande Property expects to issue 15% of its shares with a P / E ratio of 20.5 to 23.5 times in 2021, with a market value of up to $ 13.3 billion (approximately $ 103.7 billion of Hong Kong).
About Evergrande Property Group
Executive director and general manager of the company Hu Liang pointed out that 65% of the funds raised this time are mainly used for strategic acquisitions and investments. After the company goes public, it will continue to actively increase the proportion of independent third-party real estate developers. The company established an external business development team in June this year and, between June and September, acquired 5 real estate management services companies with an area of 7.72 million square meters under management.
A Lihong, executive director and deputy general manager of Evergrande Property, began adopting the annual dividend payout ratio later this year so that it was no less than 25% of the distributable annual net profit generated in each fiscal year.
The listing document revealed that Evergrande Property is indirectly owned by Evergrande (03333) with 71.94% stake. Upon completion of the listing, Evergrande Property will remain a subsidiary of China Evergrande.
As of June 30 of this year, Evergrande Properties has booked approximately 1,354 projects to provide property management services, with a total managed area of approximately 254 million square meters and a contracted area of 513 million square meters, over 98 % of area managed and Real estate management services income comes from properties developed by Evergrande.
In the first half of this year, Evergrande’s revenue was 4.56 billion yuan (RMB, same below), up 31.7% year-on-year, earning 1.15 billion yuan. , 1.8 times on an annual basis.
65% of the company’s fundraising proceeds are used for strategic acquisitions and investments; 15% for the development of its value-added services; 8% for updating information systems and equipment; 2% for the recruitment and training of talents and 10% for working capital.
Huatai International, UBS, ABCI, CCB International, CITIC Securities and Haitong International are the joint sponsors; the joint bookrunners are CMB and ICBC.
(Fourth Edition: Increase First Hand Admission Fee)
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[Hengda Financial Distress]Evergrande’s share price once rose by half and sold 40% of Guanghui Industrial’s shares for 17.2 billion yuan [Prezzo delle azioni di Hengda]Evergrande’s share price rebounded nearly 7% and recently spent more than 13 million yuan to buy back [Evergrande Debt]Evergrande has prepaid over $ 1.5 billion in senior foreign debt and paid off the bills owed this yearTo track IPO news, you can browse[IPO IPO]or use the gadget of IPO IPO
Published by Wu Minfang, Xie Zhuorong
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