09676 十月稻田
SHIYUE DAOTIAN
SHIYUE DAOTIAN
| Listing Date | 2023/10/12 |
| Listing Price | 15.360 |
Subscription Result
- Subscription Rate1.31x
- Guarantee One Lot Size1 lot
- One Lot Success Rate100%
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IPO Detail
COMPANY PROFILE
Shiyue Daotian Group is a staple food companies in China. Since its inception, it have been dedicated to providing pre-packaged premium rice, whole grain, bean, and dried food products. Among the top five players by revenue in China’s pantry staple food market, it was the fastest-growing company by revenue CAGR from 2020 to 2022, according to Frost & Sullivan.
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The Group have successfully established its flagship brands, namely Shiyue Daotian (十月稻田) and Firewood Courtyard (柴火大院):
1.For each year from 2019 to 2022, it have been the largest company on comprehensive e-commerce platforms, such as JD.com and Tmall, in terms of the revenue generated from sales of rice, whole grain, bean and seed products, with a 14.2% market share in 2022;
2.Its flagship brands, Shiyue Daotian and Firewood Courtyard, have consistently ranked in the top two positions on comprehensive e-commerce platforms in terms of revenue generated from sales of rice, whole grain and bean and seed products, according to Frost & Sullivan.
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As of March 31, 2023, the Group had established five production bases in proximity to the five core grain production areas in China, namely Shenyang Xinmin production base, Wuchang production base, Songyuan production base, Tonghe production base and Aohan production base.
BASIC INFORMATION
| Market | Hong Kong (Main Board) |
| Business Nature | Agricultural Products |
| Major Business Area | China |
| Board Lot | 300 |
GLOBAL OFFERING
| No. of Offer Shares | 53.41M H shares |
| No. of International Offer Shares | 48.07M H shares |
| No. of HK Offer Shares | 5.34M H shares |
| Offer Price | $13.00 - $15.80 |
| Stock Code | 9676 |
| Sponsor(s) | Morgan Stanley Asia Limited, China International Capital Corporation Hong Kong Securities Limited, China Securities (International) Corporate Finance Company Limited |
| Underwriter(s) | Morgan Stanley Asia Limited, China International Capital Corporation Hong Kong Securities Limited, China Securities (International) Corporate Finance Company Limited, Tiger Brokers (HK) Global Limited |
TIME TABLE
| Application Period | Sep 28 (Thu) - noon, Oct 05 (Thu) |
| Price Determination Date | Oct 05 (Thu) |
| Result Announcement Date | On or before Oct 11 (Wed) |
| Result Announcement Date | On or before Oct 11 (Wed) |
| Result Announcement Date | On or before Oct 11 (Wed) |
| Dealings in Shares commence on | Oct 12, 2023. (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 | $13.00 - $15.80 |
| Capitalization | 13.89B - 16.88B |
| NAV / share ($) | $3.25 - $3.39 (Unaudited pro forma adj NAV / share) |
Use Of Proceeds
| Assuming the offer price being at HKD 14.4, the net proceeds raised would be HKD 667.90M, of which |
| 35% : Enhance cooperation with suppliers and strengthen procurement capability |
| 30% : Expanding production capacity, upgrading existing production lines, broadening the geographic coverage of warehousing and logistics |
| 10% : Expand channel coverage and establish sales ecosystem |
| 10% : Enhance brand equity |
| 5% : Construct digital middle platform system to integrate the full digital chain |
| 10% : Working capital |
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).