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SMC Electric

SMC Electric engages in the manufacturing and selling of electric tools and sourcing and selling of electric fans. It is headquartered in Hong Kong with its manufacturing operations in the PRC.

It manufactures and sells a wide range of electric tools including cordless fans, work lights, vacuum cleaners and other electric tools mainly to the respective brand owners. It also sources and sells different types of electric fans including ceiling fans, wall-mounted fans, stand up fans and orbital fans under the Group's "SMC" brand, and are sold to distributors and retailers mainly based in Asia, Africa and Oceania. The Group mainly manufactures the products for the U.S. Customer.

The Group's manufacturing facilities are located in Shunde, Foshan, Guangdong Province, the PRC. As at 30 September 2019, the Group operated 1 production line for cordless fans, 2 production lines for work lights, 1 production line for vacuum cleaners and 1 production line for other electric tools. These production facilities occupied a combined area of approximately 3,666 sq. m. with an annual designed production capacity of approximately 163,000 pieces of cordless fans, 1,053,000 pieces of work lights, 249,000 pieces of vacuum cleaners and 249,000 pieces of other electric tools.

MarketHong Kong (Main Board)
Business NatureHousehold Appliances & Electronics
Board Lot10,000
Registrar & Transfer OfficeBoardroom Share Registrars (HK)
No. of Offer Shares500m shares (275m new / 225m existing shares)
No. of Placing Shares450m shares (225m new / 225m existing shares)
No. of Public Offer Shares50.00m shares
Offer Price$0.25
Nominal ValueHK$ 0.01 each
Stock Code2381
Sole SponsorRed Sun Capital
Sole Global CoordinatorElstone Securities
Joint Bookrunners and Joint Lead ManagersElstone Securities, CMBC Securities, Essence International Securities (Hong Kong), First Fidelity Capital (International), Kingkey Securities, SPDB International Capital, Zhongtai International Securities, Conrad Investment Services, Realord Asia Pacific Securities, KGI Asia, Innovest Securities Investment
Application PeriodMay 19 (Tue) - Noon, May 22 (Fri)
Result Announcement DateOn or Before Jun 1 (Mon)
Dispatch of Shares and Refund ChequesOn or Before Jun 1 (Mon)
Dealings in Shares commence onJun 2, 2020. (Tue)
Reallocation of Shares Offered
Times of HK Offer Shares Subscription15X - 50X50X - 100XOver 100X
% of total shares reallocated to HK Offer30%40%50%
ExecutiveLeung Chun Wah, Tang Che Yin
Non-ExecutiveYung Kwok Kee Billy (Chairman)
Independent Non-ExecutiveLeung Man Chiu Lawrence, Poon Chak Sang Plato, Lam Sai Yu Geoffrey
Director Yung Kwok Kee Billy75%
(Year ended Dec 31)
Gross Profit87,45980,73971,055
Pre-Taxed Profit57,00744,77838,876
Attributable Profit for the period45,36734,62831,206
Offer Price$0.25
Unaudited pro forma adj NAV / share$0.1184
Based on the offer price of $0.25, the net proceeds raised would be HK$42.5m, of which:
* $6.3m (14.8%) for the improvement of the Group's efficiencies in its daily operations;
* $25.9m (60.9%) for strategically expanding the Group's manufacturing capabilities;
* $10.3m (24.3%) for devoting resources on new products.
Code Name Nominal Change %Change
00179JOHNSON ELEC Hdown13.800-0.360-2.542%
00669TECHTRONIC INDup76.7001.1001.455%
02381SMC ELECTRICunchange0.1250.0000.000%
Remark: The above information is referenced from the prospectus.
  All data is calculated from the non- exercise rights(if applicable).
  Quote data is at least 15-min delayed,last updated: 03/07/2020 17:58
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