02465 龍蟠科技
LOPAL TECH
LOPAL TECH
| Listing Date | 2024/10/30 |
| Listing Price | 5.500 |
Subscription Result
- Subscription Rate3.99x
- Guarantee One Lot Size2 lot
- One Lot Success Rate70.02%
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IPO Detail
COMPANY PROFILE
Jiangsu Lopal Tech. Co., Ltd. is a major LFP cathode material manufacturer in the world and a renowned automotive specialty chemical manufacturer in mainland China. The Group primarily operates in the following two segments:
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LFP cathode materials. The Group primarily engages in the production and sale of LFP cathode materials. LFP cathode materials are currently the most extensively used cathode materials for producing lithium-ion batteries used in a wide variety of end markets, including NEV and energy storage industries.
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Automotive specialty chemicals. The Group primarily engages in the production and sale of a diverse portfolio of automotive specialty chemical products covering diesel exhaust fluids, automobile and industrial lubricants, coolants and car maintenance products, which are widely used in the automobile manufacturing market, automotive aftermarket, and engineering equipment market. The Group operated seven production facilities for its automotive specialty chemical business in the PRC.
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According to Frost & Sullivan, in terms of sales volume in 2023, the Group is China’s and the world’s fourth largest LFP cathode material manufacturer, with a global market share of 6.5%; the third largest diesel exhaust fluid manufacturer in mainland China, with a market share of 9.1%; and the third largest coolant manufacturer in mainland China, with a market share of 5.8%, respectively.
BASIC INFORMATION
| Market | Hong Kong (Main Board) |
| Business Nature | Chemicals |
| Major Business Area | China |
| Board Lot | 500 |
GLOBAL OFFERING
| No. of Offer Shares | 100.00M H shares |
| No. of International Offer Shares | 90.00M H shares |
| No. of HK Offer Shares | 10.00M H shares |
| Offer Price | $4.50 - $7.00 |
| Stock Code | 2465 |
| Sponsor(s) | Guotai Junan Capital Limited, Halcyon Capital Limited |
| Underwriter(s) | Guotai Junan Securities (Hong Kong) Limited, Halcyon Securities Limited, ICBC International Securities Limited, BOCI Asia Limited, CCB International Capital Limited, ABCI Securities Company Limited, CMB International Capital Limited, TradeGo Markets Limited, Livermore Holdings Limited |
TIME TABLE
| Application Period | Oct 22 (Tue) - noon, Oct 25 (Fri) |
| Price Determination Date | Oct 28 (Mon) |
| Result Announcement Date | On or before Oct 29 (Tue) |
| Result Announcement Date | On or before Oct 29 (Tue) |
| Result Announcement Date | On or before Oct 30 (Wed) |
| Dealings in Shares commence on | Oct 30, 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 | $4.50 - $7.00 |
| Capitalization (H Shares) | 450.00M - 700.00M |
| NAV / share ($) | $5.14 - $5.51 (Unaudited pro forma adj NAV / share) |
Use Of Proceeds
| Assuming the offer price being at HKD 5.75, the net proceeds raised would be HKD 520.00M, of which |
| 40% : Pay partial expenses for the phase II of the Indonesia Plant |
| 40% : Pay partial expenses for new LMFP production lines at our Xiangyang Plant in Hubei Province |
| 10% : Repay certain interest-bearing bank borrowings |
| 10% : Working capital |
IPO NEWS
| 30/10/2024 16:08 |
| {New Stock}LOPAL TECH(02465) ends down 13.64% at HK$4.75 |
| 30/10/2024 09:20 |
| {New Stock}LOPAL TECH(02465) opens down 7.64% at HK$5.08 |
| 29/10/2024 18:35 |
| {New Stock}LOPAL TECH(02465) ends down 0.91% on grey market |
| 29/10/2024 16:20 |
| {New Stock}LOPAL TECH down 1.82% at HK$5.4 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).