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02457 步陽國際
Listing Date2022/12/15
Listing Price0.500
  • 0.395 +0.010 (+2.597%)    Sink Below Listing Price
  • 15-min delayed, last update: 01/06/2023 17:59
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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.


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.


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.


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.

MarketHong Kong (Main Board)
Business NatureAutomobiles
Major Business AreaGlobal
Board Lot5000
No. of Offer Shares250.00M shares
No. of International Offer Shares150.00M shares
No. of HK Offer Shares100.00M shares
Offer Price$0.50 - $0.60
Stock Code2457
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
Application PeriodNov 29 (Tue) - noon, Dec 07 (Wed)
Price Determination DateDec 07 (Wed)
Result Announcement DateOn or before Dec 14 (Wed)
Result Announcement DateOn or before Dec 14 (Wed)
Dealings in Shares commence onDec 15, 2022. (Thu)
Reallocation of Shares Offered
Times of HK Offer Shares Subscription15X - 50X50X - 100XOver 100X
% of total shares reallocated to HK Offer30%40%50%
Sales Statistics (HKD)
Offer Price$0.50 - $0.60
Capitalization500.00M - 600.00M
NAV / share ($)$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
Related Document
Remark: The above information is referenced from the prospectus.
  All data is calculated from the non- exercise rights(if applicable).
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