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06661 湖州燃氣
Listing Date2022/07/13
Listing Price6.080
  • 5.700 -0.300 (-5.000%)    Sink Below Listing Price
  • 15-min delayed, last update: 07/06/2023 18:00
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Huzhou Gas engaged in sale of gas, mainly PNG under the Concessions; provision of construction and installation services to construct and install end-user pipeline network and gas facilities for customers such as property developers and owners or occupants of residential and non-residential properties; and sale of household gas appliances.

The Group is the largest piped natural gas (PNG) distributor in terms of sales volume in Huzhou, a major prefecture-level city in Zhejiang Province, the PRC, with a market share of 44.1% in Huzhou; and the fifth largest PNG distributor in terms of sales volume in Zhejiang Province, with a market share of 3.0% in Zhejiang Province in 2021, according to the F&S Report.

Since 2004 and 2009, the Group has been the exclusive distributor of PNG in the Wuxing Operating Area and Nanxun Operating Area, respectively, under the Concession Agreements for an initial term of 30 years. It owned and operated several PNG operational facilities, including two city gateway stations; seven pressure regulating stations; and one LNG storage station.

MarketHong Kong (Main Board)
Business NatureUtilities
Major Business AreaChina
Board Lot500
No. of Offer Shares50.00M H shares
No. of International Offer Shares45.00M H shares
No. of HK Offer Shares5.00M H shares
Offer Price$6.08
Stock Code6661
Sponsor(s)BOCOM International (Asia) Limited
Underwriter(s)BOCOM International Securities Limited, Sigma Capital Management Limited, CEB International Capital Corporation Limited, China Everbright Securities (HK) Limited, China Industrial Securities International Capital Limited, China Tonghai Securities Limited, CMBC Securities Company Limited, Eddid Securities and Futures Limited, Essence International Securities (Hong Kong) Limited, Guotai Junan Securities (Hong Kong) Limited, Livermore Holdings Limited, Maxa Capital Limited, Zhongtai International Securities Limited
Application PeriodJun 29 (Wed) - noon, Jul 05 (Tue)
Price Determination Date--
Result Announcement DateOn or before Jul 12 (Tue)
Result Announcement DateOn or before Jul 12 (Tue)
Dealings in Shares commence onJul 13, 2022. (Wed)
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$6.08
Capitalization (H Shares)304.00M
NAV / share ($)$6.12 (Unaudited pro forma adj NAV / share)
Use Of Proceeds
Assuming the offer price being at HKD 6.08, the net proceeds raised would be HKD 259.80M, of which
20% : Enhance sales of PNG by upgrading pipeline network and operational facilities
30% : Expand business to other geographical areas through strategic acquisition
30% : Expand into distributed photovoltaic power generation business
10% : Promote the use of heat energy from vapour generated by natural gas through natural gas boilers
10% : Working capital
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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