Caijing.com Capital and Company News, today, the first Weibo hydraulic stock registered by the Beijing Stock Exchange began to subscribe. The company adopts the method of direct pricing, the issue price is 9.68 yuan per share, and it plans to issue 8478261 million shares. It is estimated to raise funds of 82.0696 million yuan, and the issue code is “889688”.
If the issuance is successful, before the over-allotment option is exercised, the total amount of funds raised by the issuer is expected to be RMB 82.069 million. If the over-allotment option is fully exercised, the total amount of funds raised by the issuer is expected to be 94.38 million yuan. According to the announcement, the company has 8 strategic investors in this offering, including 4 public funds including E Fund and China Asset Management.
It is worth noting that the Beijing Stock Exchange is different from the Shanghai and Shenzhen A shares. The subscription of new shares in the Shanghai and Shenzhen markets is based on market value subscription, that is, investors need to have the corresponding stock market value to participate in the subscription. The Beijing Stock Exchange uses cash for subscription. Investors should deposit the subscription funds in their capital account in full before subscription. The subscription declaration will take effect after confirmation and cannot be revoked once confirmed. In addition, IPOs in the Shanghai and Shenzhen markets are drawn by lottery, and one number is the first to win. The new shares of the Beijing Stock Exchange are alloted on a pro-rata basis. The purchase unit is 100 shares, and the purchase quantity is 100 shares or an integral multiple thereof. This also means that the more shares that investors subscribe for, the greater the probability of being allocated when the Beijing Stock Exchange launches new online listings.
According to public information, Weibo Hydraulics specializes in the research and development, production and sales of hydraulic power units and core components. The company’s products are mainly used in warehousing and logistics, aerial work platforms and automotive machinery and other fields. In this sprint of the Beijing Stock Exchange, Weibo Hydraulics will use the funds raised for 300,000 sets of high-end equipment intelligent electro-hydraulic power system construction projects, 200,000 sets of gear pump construction projects and supplementary working capital.
On December 16, Weibo Hydraulic’s public offering of shares was approved by the China Securities Regulatory Commission for registration. The company became the first company registered by the China Securities Regulatory Commission under the registration system of the Beijing Stock Exchange. There are currently 82 stocks listed on the Beijing Stock Exchange. Among them, 11 stocks are new stocks, and 71 stocks have shifted from the original selection layer. The review of the listing of these stocks was approved by the China Securities Regulatory Commission, not registered by the China Securities Regulatory Commission. Weibo Hydraulics will become the 83rd Beijing Stock Exchange company.
【Author: Luo Chen】 (Edit: Luo Chen)
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