01354 經發物業
KINGFARPROPERTY
KINGFARPROPERTY
| Listing Date | 2024/07/03 |
| Listing Price | 7.500 |
Subscription Result
- Subscription Rate118.87x
- Guarantee One Lot Size100 lot
- One Lot Success Rate3.79%
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IPO Detail
COMPANY PROFILE
Xi’an Kingfar Property Services is a state-owned comprehensive city service and property management service provider in Shaanxi Province with presence in Northwest China. As of June 2024, its operations had covered Xi’an, Tongchuan, Hancheng and Shihezi.
According to CIA, in terms of the GFA under management in Shaanxi Province as of December 31, 2023, the Group’s market share was approximately 1.8%, ranking third among the property management service providers operating in Shaanxi Province in 2023.
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As of December 31, 2023, the Group was contracted to provide public property management services, basic residential property management services and basic commercial property management services to 149 projects in China, with a total contracted GFA of 15 million sq.m. and a total GFA under management of 14.6 million sq.m.. It derived a majority of its revenue from projects developed by Independent Third Parties.
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The Group’s customers primarily consist of government agencies, public authorities, property developers, property owners, residents and tenants.
BASIC INFORMATION
| Market | Hong Kong (Main Board) |
| Business Nature | Properties |
| Major Business Area | China |
| Board Lot | 300 |
GLOBAL OFFERING
| No. of Offer Shares | 16.67M H shares |
| No. of International Offer Shares | 13.66M H shares |
| No. of HK Offer Shares | 3.00M H shares |
| Offer Price | $7.50 - $9.30 |
| Stock Code | 1354 |
| Sponsor(s) | CEB International Capital Corporation Limited |
| Underwriter(s) | CEB International Capital Corporation Limited, CMB International Capital Limited, CCB International Capital Limited, ABCI Securities Company Limited, ICBC International Securities Limited, CMBC Securities Company Limited, Shanxi Securities International Limited, China Everbright Securities (HK) Limited, Zhongtai International Securities Limited, China Galaxy International Securities (Hong Kong) Co., Limited, Cinda International Capital Limited, Tiger Brokers (HK) Global Limited, Futu Securities International (Hong Kong) Limited, Livermore Holdings Limited, Aristo Securities Limited, Patrons Securities Limited, Sunhigh Financial Holdings Limited, Ruibang Securities Limited |
TIME TABLE
| Application Period | Jun 24 (Mon) - noon, Jun 27 (Thu) |
| Price Determination Date | Jun 28 (Fri) |
| Result Announcement Date | On or before Jul 02 (Tue) |
| Result Announcement Date | On or before Jul 02 (Tue) |
| Result Announcement Date | On or before Jul 03 (Wed) |
| Dealings in Shares commence on | Jul 03, 2024. (Wed) |
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 | $7.50 - $9.30 |
| Capitalization | 500.00M - 620.00M |
| NAV / share ($) | $3.13 - $3.57 (Unaudited pro forma adj NAV / share) |
Use Of Proceeds
| Assuming the offer price being at HKD 8.40, the net proceeds raised would be HKD 105.10M, of which |
| 53.8% : Pursue selective acquisitions of property management companies that focus on providing city services and property management services to public, residential and commercial properties |
| 20.6% : Replace gasoline vehicles with new energy vehicles to reduce the costs of city services; |
| 10.5% : Further develop smart property management systems |
| 5.1% : Recruit talent |
| 10% : Working capital |
IPO NEWS
| 03/07/2024 16:08 |
| {New Stock}KINGFARPROPERTY ends down 11.47% at HK$6.64 |
| 03/07/2024 09:20 |
| {New Stock}KINGFARPROPERTY(01354) opens up 2% at HK$7.65 |
| 02/07/2024 18:35 |
| {New Stock}KINGFARPROPERTY ends up 0.27% on grey market |
| 02/07/2024 16:20 |
| {New Stock}KINGFARPROPERTY up 14% at HK$8.55 on grey market |
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).