02457 步陽國際
BUYANG INTL
BUYANG INTL
| Listing Date | 2022/12/15 |
| Listing Price | 0.500 |
Quote
Subscription Result
- Subscription Rate51.22x
- Guarantee One Lot Size14 lot
- One Lot Success Rate20.01%
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IPO Detail
COMPANY PROFILE
Buyang International Holding is an aluminum alloy automobile wheel manufacturer focusing on the aftermarket which is the market for parts and accessories used in the repair or maintenance of an automobile. According to Frost & Sullivan, in terms of exported value of aluminum alloy automobile wheel, it took up approximately 1% market share in the aluminum alloy automobile wheel market in PRC in 2021.
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The Group customers are mainly aluminum alloy automobile wheel wholesale traders and retailers in the aftermarket. Its products comprise of a wide variety of aluminum alloy automobile wheels. It sold a total of approximately 19,900 distinct types of aluminum alloy automobile wheels. Its products are used by a wide range of automobiles from subcompact and compact cars to full-size SUV and pickup truck.
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The Group sold products to customers located in both PRC and overseas countries and territories. For the years ended May 31, 2022, it had 141 customers located in 27 countries and territories.
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Its manufacturing facility is located in Yongkang City, Jinhua City, Zhejiang Province, PRC. As of May 31, 2022, it self-owned and operated 31 gravity casting machines, 12 low pressure casting machines, 52 CNC lathes, 22 machining centers, three pretreatment spray equipment, six powder spray machines and ten liquid spray machines and had a maximum designed production capacity of approximately 1.2 million units of aluminum alloy automobile wheel per year.
BASIC INFORMATION
| Market | Hong Kong (Main Board) |
| Business Nature | Automobiles |
| Major Business Area | Global |
| Board Lot | 5000 |
GLOBAL OFFERING
| No. of Offer Shares | 250.00M shares |
| No. of International Offer Shares | 150.00M shares |
| No. of HK Offer Shares | 100.00M shares |
| Offer Price | $0.50 - $0.60 |
| Stock Code | 2457 |
| Sponsor(s) | Zhongtai International Capital Limited |
| Underwriter(s) | Zhongtai International Securities Limited, BOCOM International Securities Limited, SPDB International Capital Limited, GF Securities (Hong Kong) Brokerage Limited, CEB International Capital Corporation Limited, China PA Securities (Hong Kong) Company Limited, Southwest Securities (HK) Brokerage Limited, First Shanghai Securities Limited, China Tonghai Securities Limited, Zheshang International Financial Holdings Co., Limited, ZMF Asset Management Limited, West Bull Securities Limited, Goldlink Securities Limited, Sunhigh Financial Holdings Limited |
TIME TABLE
| Application Period | Nov 29 (Tue) - noon, Dec 07 (Wed) |
| Price Determination Date | Dec 07 (Wed) |
| Result Announcement Date | On or before Dec 14 (Wed) |
| Result Announcement Date | On or before Dec 14 (Wed) |
| Dealings in Shares commence on | Dec 15, 2022. (Thu) |
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 | $0.50 - $0.60 |
| Capitalization | 500.00M - 600.00M |
| NAV / share ($) | $0.37 - $0.40 (Unaudited pro forma adj NAV / share) |
Use Of Proceeds
| Assuming the offer price being at HKD 0.55, the net proceeds raised would be HKD 47.40M, of which |
| 57% : Expansion of production capacity, including purchase of new equipment for production of aluminum alloy automobile wheels |
| 36.2% : Construction of a new manufacturing facility, warehouse and other supporting facilities to accommodate expansion of production capacity |
| 6.8% : Design, development and testing of new molds and prototypes |
IPO NEWS
| 15/12/2022 16:08 |
| {New Stock}BUYANG INTL(02457) ends down 40% at HK$0.3 |
| 15/12/2022 09:20 |
| {New Stock}BUYANG INTL(02457) opens down 29% at HK$0.355 |
| 14/12/2022 18:35 |
| {New Stock}BUYANG INTL(02457) ends down 20% on grey market |
| 14/12/2022 16:20 |
| {New Stock}BUYANG INTL down 10% at HK$0.45 on grey market |
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).