Known as the “Jay Chou concept stock”, the superstar legend suddenly announced the delay in listing last month, and now it is offering another IPO. It is expected to strike the gong on the Hong Kong Stock Exchange on the 13th.
According to the IPO information of Superstar Legend, the company will conduct an IPO from June 30 to July 5, planning to issue 127 million shares, 10% of which will be publicly offered in Hong Kong. It is worth noting that the offering price has been significantly lowered, from 5.5 to 6.3 Hong Kong dollars last time, to 4.25 Hong Kong dollars per share, with a fundraising amount of 538 million Hong Kong dollars. It is expected to be listed on July 13.
Superstar Legend started its IPO-related work at the end of May. It was originally expected to be listed on June 13, but Superstar Legend announced on June 9 that it would delay its listing. The company stated at the time that due to the current market environment and various factors, and after careful consideration with the sponsor, company shareholders and underwriters, an agreement was reached, and it was decided to return the application money without interest, issue a supplementary prospectus and postpone the listing.
Jay Chou’s mother Ye Huimei and Jewel Music director Yang Junrong are one of the founders of Superstar Legend. Before listing, they held 27.63% of the company’s shares, and the controlling shareholder group, which is regarded as persons acting in concert, held a total of 64.5% of the shares. In addition, Fang Wenshan, the long-term partner of Jay Chou, is the chief cultural officer of the company.
The total revenue of Superstar Legend last year was RMB 344 million (the same below), an annual decrease of 5.8%, and its net profit was RMB 60.389 million, an annual increase of 38.35%. The business is mainly for business cooperation with celebrities such as Jay Chou and Yu Chengqing, as well as sales of new retail businesses such as Motong Coffee.
Superstar Legend stated in the prospectus that the company’s business relies heavily on the cooperation with Jay Chou. From 2019 to 2022, new retail products involving Jay Chou or its related IP promotion activities accounted for 83.0%, 72.8%, 64.8%, and 45.2% of the total revenue respectively.
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