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    Home > Coatings News > Paints and Coatings Market > Industry | Sanhe Jinghua intends to sell 100 million shares expected to be listed on January 16

    Industry | Sanhe Jinghua intends to sell 100 million shares expected to be listed on January 16

    • Last Update: 2021-03-28
    • Source: Internet
    • Author: User
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    Sanhe Jinghua (00301.
    HK) IPO from December 27 to January 7, plans to sell 100 million shares, of which 10 million shares will be publicly offered and 90 million shares will be placed; the offer price will be between HK$1.
    2 and HK$1.
    4 per lot; 2,000 shares; expected to be listed on January 16.
    According to the announcement, the company is a well-developed fine chemical product manufacturer based in China, focusing on manufacturing, R&D and sales of a diversified portfolio of fine chemical products, which can be widely used for different purposes, including hardware, building materials and car repair.
    The company's products can be roughly divided into the following segments: (i) aerosols, (ii) silicone adhesives, (iii) synthetic adhesives and (iv) other miscellaneous products, such as architectural coatings , oils and wood paints .
    Architectural Coatings and Wood Coatings For the years ended December 31, 2017 and 2018, the company achieved revenues of 669 million yuan and 769 million yuan, respectively; gross profit was 153 million yuan and 186 million yuan, respectively.
    The announcement stated that the net proceeds were approximately HK$75.
    2 million (calculated based on the median issue price).
    About 80.
    0% is used to invest in the new production plant of the MV production base; about 10.
    0% is used for sales and marketing activities; 10.
    0% is used for working capital and other general corporate purposes.
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